Cytori Therapeutics Announces Important Dates In Respect Of Rights Offering

Cytori Therapeutics, Inc. CYTX provided an update to its stockholders in respect of its recent rights offering, as well as the key dates relative to the offering. According to the company, Stockholders were advised to ensure they own the stock as of 4:00 p.m. ET on May 17, to be considered a stockholder of record on May 20, 2016.

In effect, the ex-rights date will start from May 18. As per its rights offering, Cytori would distribute one non-transferable subscription right for every share of common stock held on the record date. The company clarified that every right would entitle the holder to buy one unit at the subscription price, with each unit composed of one share of common stock and 0.5 of a warrant. The warrant would be exercisable to acquire one share of common stock.

Cytori Therapeutics said the subscription rights were not transferrable and could be exercised during the anticipated subscription period of May 23 through June 9 closing hours unless it was extended by it.

The company also said that any unsubscribed portion of the rights offering would be allotted to those who have applied for additional shares apart from their rights entitlement.

The stock traded 26.12 percent higher on Tuesday.