Athersys Raises $3.5M Via secondary Share Sale of 10.9M Shares at $0.32/Share
Portfolio Pulse from Benzinga Newsdesk
Athersys, Inc. has announced the pricing of its public offering of 10.9 million shares at $0.32 per share, raising $3.5 million. The company will also issue Series A and Series B Warrants to purchase up to an aggregate of 10.9 million shares of common stock each, exercisable immediately and expiring in five years and one and a half years, respectively.
August 18, 2023 | 7:24 am
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Athersys' secondary share sale and issuance of warrants could dilute existing shareholders, potentially leading to a short-term decrease in stock price.
Secondary share sales often lead to dilution of existing shareholders, which can put downward pressure on the stock price. The issuance of warrants also indicates potential future dilution, which could further impact the stock price.
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