March 6, 2020 10:04am
Is up +$0.34 or +4.46% to $7.96
BrainStorm Cell Therapeutics (BCLI), 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, BCLI will receive gross proceeds of $10 M, 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 3/5/2020, 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.
In this coronavirus infected market, give credit where it is due