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Pluristem announces pricing of public offering, registered direct offering.

Pluristem Therapeutics announced the pricing of an underwritten public offering of 27,142,858 shares of its common stock and warrants to purchase up to 27,142,858 shares of its common stock with an exercise price of 70c per share at a public offering price of 70c per share and accompanying warrant. The warrants in the underwritten public offering have a term of five years and are exercisable immediately upon issuance. Pluristem also announced the pricing of a concurrent registered direct offering of 1,428,571 shares of its common stock at a price of 70c per share.The gross proceeds from the underwritten public offering and the concurrent registered direct offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Pluristem, are expected to be $20M. In addition, Pluristem has granted the underwriters a 30-day option to purchase up to 1,428,571 additional shares of common stock and/or warrants to purchase up to 1,428,571 shares of common stock offered in the underwritten public offering at the public offering price, less the underwriting discounts and commissions. Both offerings are expected to close on or about April 8, subject to customary closing conditions. The Company intends to use the net proceeds of both offerings for research and product development activities, clinical trial activities, investment in capital equipment and for working capital and other general corporate purposes.

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Publication:The Fly
Date:Apr 4, 2019
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