HEALIOS K.K. Increases Investment in Athersys by Fully Exercising Warrant to Acquire Additional Shares
March 30 2020 - 6:00AM
Business Wire
Athersys, Inc. (“Athersys”) (NASDAQ: ATHX) announced today that
its partner in Japan, HEALIOS K.K. (“Healios”), exercised in full
its warrant to purchase shares of Athersys common stock. Healios
purchased 4,000,000 shares at a price of $1.76 per share in
accordance with the terms of the warrant, representing an
additional investment of $7,040,000 in Athersys.
This warrant was issued to Healios in March 2018 as part of an
expansion of the collaboration between the companies. This
expansion agreement set the warrant exercise price at 110% of the
average price per share over the ten days preceding exercise, or
$1.76 per share so long as the reference price remained below this
floor.
Healios previously purchased 12,000,000 shares of Athersys
common stock and now owns approximately 9.4% of the current
outstanding shares of Athersys. There are no other warrants
outstanding.
About Athersys
Athersys is a biotechnology company engaged in the discovery and
development of therapeutic product candidates designed to extend
and enhance the quality of human life. The Company is developing
its MultiStem® cell therapy product, a patented, adult-derived
"off-the-shelf" stem cell product, initially for disease
indications in the neurological, inflammatory and immune,
cardiovascular and other critical care indications and has several
ongoing clinical trials evaluating this potential regenerative
medicine product. Athersys has forged strategic partnerships and a
broad network of collaborations to further advance the MultiStem
cell therapy toward commercialization. More information is
available at www.athersys.com. Follow Athersys on Twitter at
www.twitter.com/athersys.
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version on businesswire.com: https://www.businesswire.com/news/home/20200330005138/en/
Ivor Macleod Chief Financial Officer Tel: (216) 431-9900
ir@athersys.com
Karen Hunady Director of Corporate Communications & Investor
Relations Tel: (216) 431-9900 khunady@athersys.com
David Schull Russo Partners, LLC Tel: (212) 845-4271 or (858)
717-2310 David.schull@russopartnersllc.com
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