Cytori Therapeutics (CYTX) announced plans today to raise $17 million (M) from a private placement financing led by strategic partner Olympus Corp (Tokyo: 7733) in addition to select institutional investors. Net proceeds are expected to be approximately $16.4M after fees and expenses. Cytori will issue a total of 2.83M shares of common stock with 50% warrant coverage at $6.00 per unit. The warrants will be exercisable for up to a total of 1.42M shares of common stock at an exercise price of $8.50 per share. The warrants will have a five year term and will be exercisable no sooner than six months following the closing of this transaction. Olympus, as the lead investor, will purchase 1M shares and warrants exercisable for up to an additional 500,000 shares. Cytori also announced 2Q08 operating results, which included product...
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