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Friday, January 20, 2017 7:53:24 AM
Jan. 20, 2017 7:16 AM ET|About: Pluristem Therapeutics... (PSTI)|By: Douglas W. House, SA News Editor
Pluristem Therapeutics (NASDAQ:PSTI) amends its underwriting agreement with H.C. Wainwright to increase its "bought deal" offering to $15M. Under the bought deal arrangement, Wainwright will purchase the entire offering of 12,244,898 Units at $1.225 per Unit. Each Unit consists of one share of common stock and 0.6 of a warrant to purchase one share of common at $1.40. Gross proceeds will be $15M.
Wainwright also has a 30-day option to buy up to an additional 1,836,735 Units. If exercised in full, gross proceeds will be $17.25M.
Net proceeds will fund R&D, clinical trial activities, investment in capital equipment, working capital and general corporate purposes.
Shares are off 17% premarket on increased volume.
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