CryoPort Inc (CYRX)

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Cryoport offers warrant holders special deal to raise capital
Aug 12 2016, 06:53 ET | By: Douglas W. House, SA News Editor Contact this editor with comments or a news tip
With the aim of raising capital to support operations, thinly traded nano cap Cryoport (NASDAQ:CYRX) is offering holders of its warrants to purchase common stock at $3.57 a special incentive to exercise. For a limited time (until September 16), one original warrant can be exchanged for a new warrant to purchase one share of common at $1.50 with the proviso that the new warrant is exercised immediately. In addition, holders will receive one additional warrant to purchase one share of common at $3.00 for every four new warrants exercised.The original warrants were issued in July 2015 as part of its $6.5M capital raise.Yesterday's close was $2.15.Previously: Cryoport prices equity offering; shares off 33% premarket (July 24, 2015