March 30, 2020 10:18am
Shares are UP +$0.32 or +16.326 to $2.29 – SELL on strength
Representing an additional investment of $7,040,000
The BOTTOM LINE is ...
Athersys (ATHX) announced today that its partner in Japan, HEALIOS K.K. ("Healios"), exercised in full its warrant to purchase 4 million shares. Healios purchased shares at a price of $1.76 per share in accordance with the terms of the warrant.
This warrant was issued to Healios in March 2018 as part of an expansion of the collaboration between the companies.
- This expansion agreement set the warrant exercise price at 110% of the average price per share over the ten days preceding exercise, or $1.76 per share so long as the reference price remained below this floor.
The BOTTOM LINE: For a share that has been flat for so long with multiple financings – how long will this pricing be sustainable. NPT a believer in ATHX.
Healios had previously purchased 12 million shares of ATHX’s stock and now owns approximately 9.4% of the current outstanding shares. There are no other warrants outstanding.