Cesca Therapeutics (KOOL) proposes a $10 M unit and attached warrant offering in new prospectus

April 9, 2018 9:53am

KOOL closed (Friday 4/6/18) down -$0.01 at $1.66

... And now another financing proposed as stock drops -$0.20 or -12.05% to $1.46

At the moment in time, each unit is consisting of one share of common stock and one common warrant to purchase 0.5 shares of common stock

On 3/26 (Monday), KOOL had entered into agreements for institutional investors to buy 609,636 shares for $2.27 each. There was a 15% discount to the price ($2.68) where Cesca shares closed the previous Friday. The stock had fallen $0.45, or 16.8%, to $2.23 on 3/26.

Investors had also received stock-purchase warrants allowing them to buy up to an additional 304,818 Cesca shares for $2.68 each, for up to five-and-a-half years after the private placement is completed.

KOOL had said it received up to $1.38 million in gross proceeds from the offering, before deducing placement agent fees and other expenses. H.C. Wainwright & Co. acted as its placement agent for the offering. This will be the third (3^rd) time in five (5) months that KOOL has sold stock to raise capital. In December, KOOL raised $2.7 million in a follow-on offering.

HC Wainright & Co is again to act as its exclusive placement agent in connection with this offering.

Wait and see as the market responds ...