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In: Press Releases

Cytori closes public offering to fund ongoing corporate activities

PDF:  5.8.15 WBB Securities Acts as Placement Agent for up to $25 Million in Equity Financing for Cytori Therapeutics

For Immediate Release

May 8, 2015

SAN DIEGO, CA – WBB Securities acted as placement agent to a transaction for Cytori Therapeutics, a clinical-stage biopharmaceutical company focused on discovering and developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. The Company raised $19.4 million through the offering which closed on May 8, 2015 (the Initial Closing).  Subject to receipt of any required stockholder approval pursuant to the rules of the Nasdaq Stock Market and the restructure of our outstanding debt under our loan agreement, Cytori expects to complete a second closing in which it intends to sell additional stock having gross proceeds of $5.6 million (the Second Closing).

Upon completion of the total offering, the Company will have raised $25 million in net cash proceeds from the offering. Cytori intends to use a portion of the proceeds to refinance existing debt, and the remaining portion for general corporate purposes, including working capital, capital expenditures, research and development and debt service.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About WBB Securities

WBB Securities is a leading investment management, investment banking, and equity research firm. Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities. WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients.
The firm also maintains an investment banking and equity research practice focused exclusively in the life sciences niche. Our investment bank has participated in over 120 transactions leading to $3 billion placed. Whether raising capital or executing strategic transactions, our banking team is equipped to meet your financial needs and is comprised of some of the most knowledgeable people working in the life sciences domain.   Our firm has been singled out for its equity research and analytics year after year from our peers for performance by the financial industry’s most highly regarded rankings organizations.

About Cytori

Cytori Therapeutics is a late stage cell therapy company developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products.