Athersys extends exercise period of warrants in connection with recent offering
- Athersys ( NASDAQ: ATHX ) has extended the exercise period of the warrants that were issued as part of a registered direct offering that closed on August 17, 2022.
- Pursuant to the amendment, the exercise period of the initial warrants has been extended from five years to seven years after the six-month anniversary of the closing date; the Standstill Period has been reduced from 180 days to 150 days; and term and amount of the participation right is reduced from twelve months to six months and from 30% to 20% in the aggregate of any offered securities, respectively.
- Purchasers are now required to participate in the event the company proposes to offer and sell shares of offered securities during the six months following the Closing Date to investors primarily for capital raising purposes.
- In return, the regenerative medicine company issued to the same warrant holder additional warrants that are exercisable for an aggregate of 2M shares of common stock and have an exercise price of $6.3850 for a seven-year period after the six-month anniversary of the date of issuance.
- ATHX shares gained 1.71% premarket
For further details see:Athersys extends exercise period of warrants in connection with recent offering