There has lately been a lot to smile about Cytori Therapeutics Inc (NASDAQ:CYTX), but let’s face it once and for all, nothing is comparable to the recent announcement where the company made it clear that it was indeed going to price an underwritten public offering of 8,600,000 shares of its common stock at a price to the general public. According to the company’s insiders, the interested persons or parties will buy each share for $1.10.
The company’s top analysts have come forward to state that the gross proceeds are hoped to hit the $9.5 million mark. However, it is important to move ahead and outline that indeed that figure is arrived at before underwriting the estimated offering costs as well as the underwriting discounts and commissions.
According to the company’s insiders, Cytori Therapeutics Inc looks forward to utilize the net proceeds associated with the offering for working capital and general corporate purposes, including financing the ATI-0918 and HABEO development programs.
The high end provider has given a 45-day ultimatum to the underwriter to buy up to 15% of additional shares of its common stock. The company as a matter of fact insists that indeed the offer should come to a close on or about April 17, 2017, and that will be subject to all the clauses provided in the customary closing conditions.
The acting sole book-running manager for the offering is of course the Maxim Group LLC and according to sources, it is doing just fine.
Most of the high end therapeutic providers globally have in the recent years leveraged on technology in the move to come up with high quality products and implement their expansion plans. The main reason behind the dwelling on the quality aspect has been in an attempt to try and gain customer confidence in the products.
As a matter of fact, Cytori Therapeutics Inc has had its fair share of challenges just like any other top notch company. According to one of the company’s top executives, the company has remained vigilant in its quest to compete more favorably in the market as well as expand its customer-base.