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Athersys Files Shelf Registration To Replace Expiring S-3 Registration Statement

CLEVELAND, Jan. 11, 2013 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) announced today that it has filed a shelf registration statement with the Securities and Exchange Commission ("SEC"). The new shelf registration statement will replace a similar registration filed in 2010 that will expire later this month. Athersys currently does not have any immediate plans to offer or sell the securities under this registration statement. As with the previous shelf registration that is due to expire, the replacement registration statement is intended to provide Athersys with financial flexibility to raise capital from the offering of up to 20,000,000 shares of common stock and/or warrants to purchase common stock, which could occur in multiple transactions conducted over an extended period of time. When declared effective, a shelf registration statement gives a company advance regulatory approval to sell securities in one or more separate offerings in amounts and at prices and terms to be determined at the time of the sale.

If the securities are issued, Athersys may use the proceeds for general corporate purposes, including, but not limited to, research and development costs, payment obligations and capital expenditures.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering.

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