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Cytori (CYTX) initiates rights offering

May 17, 2016 10:51am

Under the rights offering, CYTX will distribute one non-transferable subscription right for each share of common stock held on the record date.

Stockholders who own Cytori's stock as of 4:00 PM ET on Tuesday, 5/17/16 will be considered a stockholder of record on Friday, 5/20/16.

Each right will entitle the holder to purchase one unit at the subscription price, with each unit composed of one share of common stock and 0.5 of a warrant, with each whole warrant exercisable to purchase one share of common stock.

The subscription rights may only be exercised during the anticipated subscription period of Monday, May 23, 2016 through 5:00 PM ET on Thursday, June 9, 2016, unless extended.

Cytori has engaged Maxim Group LLC as dealer-manager for the rights offering.

CYTX closed at $2.45 and is UP +$0.35 in morning trade

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