Athersys Announces Proposed Public Offering of Common Stock
Athersys, Inc. (ATHX)
Last athersys, inc. earnings: 11/6 04:05 pm
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US:NASDAQ Investor Relations:
athersys.com/press-releases
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Source: Business Wire
CLEVELAND--(BUSINESS WIRE)--Athersys, Inc. (NASDAQ: ATHX) (Athersys) announced today that it intends to offer for sale $50 million of shares of its common stock, par value $0.001 per share (Common Stock), in an underwritten public offering. In addition, Athersys expects to grant the underwriters a 30-day option to purchase additional shares of Common Stock in an amount of up to 15% of the number of shares of Common Stock offered in the public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.BofA Securities is acting as sole book-running manager for the offering. Needham & Company, SMBC and WBB Securities are acting as co-managers for the offering.Athersys intends to use the net proceeds from the offering for working capital and general corporate purposes, including funding towards its acute respiratory distress syndrome (ARDS) clinical program,
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