Athersys Prices Public Offering of Common Stock
CLEVELAND, Oct. 26, 2012 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq: ATHX) announced today that it has priced its offering of common stock. The Company has agreed to sell 19,802,000 shares of common stock through an underwritten public offering at $1.01 per share, which was the closing price of its common stock on October 25, 2012. In connection with the offering, the underwriters have been granted an over-allotment option to purchase an additional 2,970,300 shares of common stock. Both existing investors and new investors are participating in the offering.
Athersys intends to use the net proceeds from the offering for working capital and general corporate purposes, including the funding of its ongoing clinical trials.
Piper Jaffray & Co. is acting as the sole book-running manager of the offering, and First Analysis Securities Corporation is acting as co-manager of the offering. Leerink Swann LLC and WBB Securities LLC are acting as financial advisors in connection with the offering.
The offering is expected to close on October 31, 2012, subject to customary closing conditions.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. The offering may be made only by means of a prospectus. A copy of the final prospectus may be obtained by contacting: Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by e-mail at email@example.com.
Athersys is a clinical stage biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing its MultiStem® cell therapy product, a patented, adult-derived "off-the-shelf" stem cell product platform for disease indications in the cardiovascular, neurological, inflammatory and immune disease areas. The Company currently has several clinical stage programs involving MultiStem, including for treating inflammatory bowel disease, ischemic stroke, damage caused by myocardial infarction, and for the prevention of graft versus host disease. Athersys has also developed a diverse portfolio that includes other technologies and product development opportunities, and has forged strategic partnerships and collaborations with leading pharmaceutical and biotechnology companies, as well as world-renowned research institutions in the United States and Europe to further develop its platform and products.
The Athersys, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4548