BrainStorm Cell Therapeutics Inc (BCLI)

[midastouch017]

A vote of confidence:

NEW YORK, March 06, 2020 (GLOBE NEWSWIRE) -- BrainStorm Cell Therapeutics Inc., (NASDAQ: BCLI), a leading developer of cell technologies for neurodegenerative diseases, today announced that it has entered into a definitive agreement with Abbhi Investments, LLC, a healthcare-focused family office based in Miami, Florida, in connection with a privately negotiated sale of common stock and a warrant to purchase common stock (collectively, the “securities”). Upon the closing of this registered direct offering, BrainStorm will receive gross proceeds of $10.0 million, resulting from the issuance and sale of 1,250,000 shares of common stock at a price per share of $8.00, a 4.9% premium to our closing share price of $7.62 on March 5, 2020, and a 35.6% premium to the 30 day volume-weighted average price of $5.90. The purchaser will also receive a warrant to purchase up to 250,000 shares of common stock at an exercise price of $15.00 per share. The warrant will be exercisable immediately and has a term of three years.