Athersys prices $20-million stock offering
Athersys (NASDAQ:ATHX) priced a public offering of 19,802,000 common shares at a price of $1.01 each for gross proceeds of about $20-million and gave underwriters an option to purchase up to an additional 2,970,300 shares.
The offering is expected to close on Feb. 1. William Blair is acting as sole book-running manager and Needham as lead manager. Maxim Group served as financial advisor to Athersys.
Net proceeds will be used for working capital and general corporate purposes, including funding for the company’s Phase 3 MultiStem Administration for Stroke Treatment and Enhanced Recovery Study-2 and its other ongoing clinical programs.