Cesca Prices $5.5 Million Public Offering

Cesca Therapeutics (NASDAQ:KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, today announced the pricing of its public offering of 9,166,667 units (the “Units”), with each Unit consisting of one common share, $0.001 par value or Common Share equivalent and one common warrant to purchase one Common Share.  Cesca is offering the Units at a price of $0.60 per Unit.

As quoted in the press release:

The Warrants will be exercisable immediately at an exercise price of $0.60 per share and will expire five years from the date of issuance. The Common Shares or Common Share equivalents and the accompanying Warrants can only be purchased together in this offering but will be issued separately. The offering is expected to close on or about May 18, 2018, subject to customary closing conditions.

The gross proceeds to Cesca before placement agent fees and offering expenses are expected to be approximately $5.5 million, excluding the proceeds, if any, from the exercise of the warrants. Cesca intends to use the net proceeds for general corporate purposes, including working capital and to pay accrued but unpaid interest of approximately $657,000 under Cesca’s revolving line of credit.

Click here to read the full press release.