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Cytori Therapeutics To Raise $10 Million In Registered Direct Offering

Cytori Therapeutics, Inc. (NASDAQ: CYTX) entered into subscription agreements with certain institutional investors to raise approximately $10 million, before placement agent fees and offering expenses. At closing, Cytori will issue and sell to select investors 4,048,584 units, with each unit consisting of one share of the Company's common stock and one warrant to purchase one share of the Company’s common stock, at a purchase price of $2.47 per unit. The warrants, which will represent the right to acquire up to an additional 4,048,584 shares of common stock, will be exercisable immediately upon issuance at an exercise price of $3.00 per share, and will expire five years after the date of issuance.

Cytori intends to use the proceeds for general corporate purposes, including the continued development, manufacture, marketing and sale of the Celution® System family of products, including related research and clinical trials, and other related research and development, sales and marketing, and general administrative expenses, working capital and capital expenditures.

WBB Securities, LLC acted as placement agent for the offering.

Cytori is offering the securities in this transaction pursuant to an effective shelf registration statement (File No. 333-195846) filed with the Securities and Exchange Commission (SEC), a copy of which may be obtained at the SEC’s website: A prospectus supplement relating to the offering will be filed with the SEC and will also be available on the SEC's website. The transaction is expected to close on or about June 4, 2014, subject to the satisfaction of customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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