Welcome, Guest
Username: Password: Remember me
General
  • Page:
  • 1
  • 2

TOPIC: 25 million in financing

25 million in financing 05 May 2015 08:52 #4412

  • keysman
  • keysman's Avatar Topic Author
  • Offline
  • Junior Boarder
  • Junior Boarder
  • Posts: 22
  • Thank you received: 4
Cytori Prices Registered Direct Offering Providing for up to $25 million in Equity Financing



05/05/2015




SAN DIEGO--(BUSINESS WIRE)-- Cytori Therapeutics, Inc. (NASDAQ: CYTX) today announced the pricing of a registered direct public offering of Units, with each Unit consisting of one share of our common stock and one warrant to purchase one share of common stock. The sale of the Units is expected to take place in two separate closings. In the first closing (the Initial Closing), which we expect to occur on or about May 8, 2015, the Company will sell Units having gross proceeds of $19.4 million. The purchase price for each Unit to be sold in the Initial Closing will be $0.77. The strike price of each warrant will be $1.02.

Subject to receipt of any required stockholder approval pursuant to the rules of the Nasdaq Stock Market and the restructure of our outstanding debt under our loan agreement, we expect to complete a second closing (the Second Closing) in which we intend to sell additional Units having gross proceeds of $5.6 million.

As of March 31, 2015, we had cash and cash equivalents of approximately $13.2 million and debt principal of approximately $25.0 million. Upon completing the offering, the company will have raised $25.7 million in net cash proceeds since March 31, 2015 from the issuance of shares under its ATM program, warrant exercises, and the net proceeds from the Initial Closing of this transaction. Following the Initial Closing, we intend to use a portion of the proceeds to refinance our existing debt to provide that our outstanding debt under our Loan Agreement does not exceed $18.0 million. The Company also intends to use the net proceeds of the offering for general corporate purposes, including working capital, capital expenditures, research and development and debt service.

Mizuho Securities USA Inc. acted as the sole lead placement agent, with Roth Capital Partners, Maxim Group LLC, and WBB Securities, LLC as additional placement agents on the transaction. The securities are being offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective registration statement, a copy of which may be obtained, when available, at the website of the SEC at www.sec.gov . Copies of the prospectus supplement and accompanying prospectus may also be obtained from the offices of Mizuho Securities USA Inc. 320 Park Avenue, 12th Floor, New York, NY 10022-6815, Attn: Equity Capital Markets (212) 205-7600.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Cytori Therapeutics, Inc.

Cytori Therapeutics is a late stage cell therapy company developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products.

Cautionary Statement Regarding Forward-Looking Statements

This communication includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements are forward looking statements, including without limitation those relating to the company’s ability to complete the First Closing, Second Closing, and refinancing of its debt. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. The Initial Closing and the Second Closing are subject to satisfaction of closing conditions, including, in the case of the Second Closing, approval by Cytori’s stockholders and the restructure of Cytori’s debt under its loan agreement. Cytori assumes no responsibility to update or revise any forward-looking statements contained in this press release to reflect events, trends or circumstances after the date of this communication.



Source: Cytori Therapeutics, Inc.


Cytori Therapeutics, Inc.

Shawn Richardson, 1-858-875-5279

This email address is being protected from spambots. You need JavaScript enabled to view it.

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 10:58 #4421

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3299
  • Thank you received: 1110
Congrats to Hedrick and Girao. :whistle:

They finally and surely succeeded to strip all long-term shareholders of most of their ownership in Cytori and becoming insignificant in all respects. :puke: :evil:

32.5 Mio new and fresh shares for the traders and short crew to play with.- with 32.5 more warrants in the game.


I agree with the "speakers" in the other thread- no rush to own more Cytori until after the reverse split and the "PPS adjustments" as a result. :whistle: :cry:

Please Log in or Create an account to join the conversation.

Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

25 million in financing 05 May 2015 13:18 #4425

  • belgiumineurope
  • belgiumineurope's Avatar
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 56
  • Thank you received: 6
now we understand why KT Lim sold millions of shares..... what a disgrace.
I must admit I added yesterday at 0.92....ouch, that hurts !!! :cry:

Will someone ask them why they didn't hit the ATM when PPS was above 1.25....just to dilute @ .77 a few weeks later?

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 13:37 #4428

  • agamemnus
  • agamemnus's Avatar
  • Offline
  • Expert Boarder
  • Expert Boarder
  • Posts: 155
  • Thank you received: 9
Fas, reverse split does not harm a stock's price...

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 13:59 #4429

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3299
  • Thank you received: 1110

Fas, reverse split does not harm a stock's price...


Thanks Aga. Yes it does not harm the PPS (it blows it up even), but my ownership % of the market cap remains the same - before versus after.

I guess you were referring to that, but in actual fact I did not.

I agree with Franshei that empirical evidence will tell us (without having done the research) that after reverse splits the PPS tend to decrease due to sentiment and the lack of support of past market caps to fundamental financial ratio´s.

I have seen this in most regen stock including VCEL, STEM, NBS and I am sure there are more. :bye:

Anyway- I still think there is a future for Cytori even with losers like Hedrick and Girao, but I have learned my lessons too.

Please Log in or Create an account to join the conversation.

Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

25 million in financing 05 May 2015 14:13 #4430

  • agamemnus
  • agamemnus's Avatar
  • Offline
  • Expert Boarder
  • Expert Boarder
  • Posts: 155
  • Thank you received: 9
I think it's more likely that you are looking at stocks that are already sliding down due to other issues...

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 15:54 #4431

  • CalhounDoppelganger
  • CalhounDoppelganger's Avatar
  • Offline
  • Gold Boarder
  • Gold Boarder
  • Posts: 160
  • Thank you received: 20
All I know is there is much that the BOD can't discuss by way of possible deals.

Call me an optimist but I think the Board of Directors don't make decisions like this lightly.

However as a shareholder its important for the BOD to communicate these decisions in a manner which satiates the shareholders but while not compromising any inner managerial discussions.

Its a delicate dance. Either way we have $ now, correct? Whats the burn rate on this money? Is it enough to see us through to BARDA capital infusion?

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 16:15 #4432

  • d9dozrman
  • d9dozrman's Avatar
  • Offline
  • Expert Boarder
  • Expert Boarder
  • Posts: 151
  • Thank you received: 21
***Its a delicate dance*** Cal Dop, as in the Desert Rose Band tune, "One Step Forward And Two Steps Back"



And of course, "This Kind Of Dance Can Never Last" :cry: :cry: But I hope what your hinting at is correct. :grin: :grin:

d9

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 16:53 #4434

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3299
  • Thank you received: 1110

Its a delicate dance. Either way we have $ now, correct? Whats the burn rate on this money? Is it enough to see us through to BARDA capital infusion?


I am still very puzzled.

At March end they had still 12.4 Mio on hand.. :whistle:

So why the pressure to do another knife backstabbing like on October 6 ???


I have to sleep on this one a bit... :really:

Good night :bye:

Please Log in or Create an account to join the conversation.

Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

25 million in financing 05 May 2015 16:56 #4435

  • cytxer
  • cytxer's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 347
  • Thank you received: 25

CalhounDoppelganger wrote: All I know is there is much that the BOD can't discuss by way of possible deals.

Call me an optimist but I think the Board of Directors don't make decisions like this lightly.

However as a shareholder its important for the BOD to communicate these decisions in a manner which satiates the shareholders but while not compromising any inner managerial discussions.

Its a delicate dance. Either way we have $ now, correct? Whats the burn rate on this money? Is it enough to see us through to BARDA capital infusion?


CD, you sure you are not a friend of CC's?

You are so happy when the price drops 50% in a week or so... aren't you losing money?

Please Log in or Create an account to join the conversation.

25 million in financing 05 May 2015 19:21 #4437

  • CalhounDoppelganger
  • CalhounDoppelganger's Avatar
  • Offline
  • Gold Boarder
  • Gold Boarder
  • Posts: 160
  • Thank you received: 20

cytxer wrote:

CalhounDoppelganger wrote: All I know is there is much that the BOD can't discuss by way of possible deals.

Call me an optimist but I think the Board of Directors don't make decisions like this lightly.

However as a shareholder its important for the BOD to communicate these decisions in a manner which satiates the shareholders but while not compromising any inner managerial discussions.

Its a delicate dance. Either way we have $ now, correct? Whats the burn rate on this money? Is it enough to see us through to BARDA capital infusion?


CD, you sure you are not a friend of CC's?

You are so happy when the price drops 50% in a week or so... aren't you losing money?



50% in a week...shoot, I've lost way more than that over the past 6 years. I'm super bummed out but I'm Confident in the science. My long investment is easily over $160k. But that's not that bad. But yeah it's skin nonetheless.

I manage luxury buildings in nyc and I have to sit in on board meetings for some of the most prestigious 5th avenue buildings in the history of real estate of nyc. The 1% of the 1% sit on the boards of these coops and seeing how they work really gives me a different perspective on the inner workings of a board of directors. That being said, there's no doubt Calhoun was a kid in a candy shop and Marc is just a scientist. Give it time. Lots of big shots know about this company. And I mean BIG SHOTS.
The following user(s) said Thank You: mikeadd@twitter

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 07:38 #4439

  • cytxer
  • cytxer's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 347
  • Thank you received: 25

CalhounDoppelganger wrote:

cytxer wrote:

CalhounDoppelganger wrote: All I know is there is much that the BOD can't discuss by way of possible deals.

Call me an optimist but I think the Board of Directors don't make decisions like this lightly.

However as a shareholder its important for the BOD to communicate these decisions in a manner which satiates the shareholders but while not compromising any inner managerial discussions.

Its a delicate dance. Either way we have $ now, correct? Whats the burn rate on this money? Is it enough to see us through to BARDA capital infusion?


CD, you sure you are not a friend of CC's?

You are so happy when the price drops 50% in a week or so... aren't you losing money?



50% in a week...shoot, I've lost way more than that over the past 6 years. I'm super bummed out but I'm Confident in the science. My long investment is easily over $160k. But that's not that bad. But yeah it's skin nonetheless.

I manage luxury buildings in nyc and I have to sit in on board meetings for some of the most prestigious 5th avenue buildings in the history of real estate of nyc. The 1% of the 1% sit on the boards of these coops and seeing how they work really gives me a different perspective on the inner workings of a board of directors. That being said, there's no doubt Calhoun was a kid in a candy shop and Marc is just a scientist. Give it time. Lots of big shots know about this company. And I mean BIG SHOTS.


One question, were you notified when blackrock stole trillions $ worth of housing from the people when the "Government Shut down" was going on, or did you know before it passed the house?

Anyway...

So... you sit up there and make decisions and say dance monkeys dance, and we all dance? then yes, your 160 K loss is more like a weekend trip to the mountains, maybe less...

Yeah, but I know a friend who lost her retirement over this shit, and it was 90% my fault for opening my GOD#)(%(* mouth to talk about this GOD $%(*$* company...

So you see it is not that easy for everyone... Marc told me to "hang in there" while he was authorizing this latest dilution, ( he told me the same thing last year when he was backstabbing us with the warrants)

I remember years ago, in D.C. I asked an influential person about the lies we used to tell people when I was a lobbyist, he told me "you have a good job, enjoy life, and ignore the idiot living in the mid-west... OR you'll end up like one of them"... He was right.. LOL...

The point is, your small loss is not so small for everyone, and just because some people can afford to lose money it doesn't make it right... Marc can never get this company going, because he is happy with BS to make money like Chris did... hard work doesn't feel good to the robber since easy money is easier... and "more exciting"...

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 08:02 #4440

  • rothco619
  • rothco619's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 467
  • Thank you received: 67
Thanks should also go out to the folks at Maxim and Roth Capital who are allowed to write bull shit and set targets of &6 and $7 dollars and then participate in the rape of shareholders and it's all legal. Guess I forgot to read the fine print where it said year end targets based on reverse split. What also amazes me is the posters here who had contact with CC, SAAD, Rickey, Hedrik et el and believed the crap they were being fed and continue to this day to spread the bullshit. Shame on me for being so stupid and loosing way more money then I could afford to. I will be paying for this mistake long after Cytori is bankrupt. I got 10 x's my wildest dreams alright ,only to the negative,thought I was buying in to a good thing. :puke:

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 08:42 #4441

  • cytxer
  • cytxer's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 347
  • Thank you received: 25
Roth, I don't believe a word they tell me. I just offered my help since I know a thing or two about a thing or two... His reply was amusing in a sick way, its' all.

If I believed him, I wouldn't have sold in 2,20s last year and in 1,30s this year.......

My point was something else.

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 10:12 #4442

  • franshei
  • franshei's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 789
  • Thank you received: 103
We should all read the prospectus of the secondary as FAS has done.

There are many other shoes to be dropped.

I think of the followings:

1. First Q results are not good. Product sale of just 0.9 million and others are not good.

2. Dilution factor to the PPS is everywhere in the document.

3. Athena data release appears to be purposely delayed for some reasons.

4. Stock holders' approval needed for a second offering of units to raise another $ 5 to 6 Million. It means more authorization of shares outstanding, since the beginning of this year. Things will not be easy for the management to get this authorization. People will be very upset this time around.

I think the PPS may stay sub $ 1 for a while.

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 11:37 #4443

  • rothco619
  • rothco619's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 467
  • Thank you received: 67
Fran, who are you kidding Cytori management does whatever they want shareholders be dammed. The scam has run it's course and it is the long time shareholders who have been scammed although I believe that many who claim to have been long have profited by shorting all along. None of this matters any more the damage has been done and all have to be wise to the total POS this company and it's management are. Lim is gone or will put his money back in with warrants purchased with the monies earned while most recent pump and dump was going on. The next shoe to drop
will be that the technology is not all that we have been led to believe . I had held out hope but fear all is lost. Not interested in hearing any more BS and will have to accept what my losses will mean to me. I suggest you all do the same.

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 12:04 #4444

  • CalhounDoppelganger
  • CalhounDoppelganger's Avatar
  • Offline
  • Gold Boarder
  • Gold Boarder
  • Posts: 160
  • Thank you received: 20
"One question, were you notified when blackrock stole trillions $ worth of housing from the people when the "Government Shut down" was going on, or did you know before it passed the house?

Anyway...

So... you sit up there and make decisions and say dance monkeys dance, and we all dance? then yes, your 160 K loss is more like a weekend trip to the mountains, maybe less...

Yeah, but I know a friend who lost her retirement over this shit, and it was 90% my fault for opening my GOD#)(%(* mouth to talk about this GOD $%(*$* company...

So you see it is not that easy for everyone... Marc told me to "hang in there" while he was authorizing this latest dilution, ( he told me the same thing last year when he was backstabbing us with the warrants)

I remember years ago, in D.C. I asked an influential person about the lies we used to tell people when I was a lobbyist, he told me "you have a good job, enjoy life, and ignore the idiot living in the mid-west... OR you'll end up like one of them"... He was right.. LOL...

The point is, your small loss is not so small for everyone, and just because some people can afford to lose money it doesn't make it right... Marc can never get this company going, because he is happy with BS to make money like Chris did... hard work doesn't feel good to the robber since easy money is easier... and "more exciting"...[/quote]


Hey Cytxr....I feel your frustration. I myself was recommended this ticker by the CFO of one of its largest institutional holders. Since I'm technically holding the bag I have no one else to blame except myself. I'd love to yell at the guy who recommended Cytori but I did my due diligence and I'm responsible for my own decisions. Same as your friend who invested her life savings. Unless you manipulated her - its not your problem. We need to take responsibility for our own actions. Whenever i recommend a stock i ALWAYS caveat it with "I have no idea what I'm doing and the system is rigged. " As for Cytori - its a ten bagger. Period.

As for Blackrock - well, welcome to the plutocracy. What can I say ? There's no rule of law. Usury should be outlawed but its not. Life goes on.

When I was in my early teens i watched this documentary called The Money Masters. I never looked at money the same since. I highly recomend:

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 12:06 #4445

  • myownhedgefund
  • myownhedgefund's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 2769
  • Thank you received: 199
Geez...keep missing the big market days here.
Well...they say they used some of the ATM but they could have raised a lot of money from $1.20 to $1.40 instead opting for $0.77 for the bulk of their needs. Clown paint on as think as ever.

DOV will need to do some serious spreadsheet adjustments. Not that $3.00 in 2020 was ever possible imho anyway nor do I believe the scleroderma pool is 300K patients in the US either.

CYTX is clear example why you never bet too heavily on spec biotechs no matter how good the story sounds...LOL

In the end they needed money and they got it.

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 12:56 #4446

  • agamemnus
  • agamemnus's Avatar
  • Offline
  • Expert Boarder
  • Expert Boarder
  • Posts: 155
  • Thank you received: 9

franshei wrote: 4. Stock holders' approval needed for a second offering of units to raise another $ 5 to 6 Million. It means more authorization of shares outstanding, since the beginning of this year. Things will not be easy for the management to get this authorization. People will be very upset this time around.


It sailed through last time. Only the institutional holders mattered, and they didn't care about being diluted.

To me, it doesn't make sense to issue more shares even if the interest rate is at 10%, unless they think that they won't go break-even this year. It just doesn't make sense from a financial standpoint, so yes, I do see shoes dropping potentially.

Please Log in or Create an account to join the conversation.

25 million in financing 06 May 2015 15:53 #4447

  • franshei
  • franshei's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 789
  • Thank you received: 103
Roth, Lim is always a hot topic for me.

From hind sights and from all the actions related to Lim and Lorem, I think KT might have regretted his investment in CYTX and the marketing rights in Asia.

I think that he might not have done enough DD before his jump into this mess. I think the resignation of Jonah (?), his representative to the BOD, might mean more than what we know. I think Jonah might have tell KT that things were not OK around the time when he joined the board. I think over the past year, KT might have some confrontation with CYTX re misrepresentation by the past management. From what I have read KT found marketing penetration of the celution system and its use in some indications such as the heart may not be easy. But, I think he is wise to use Oxley
now.

Long term wise, I think CYTX has a good r/d approach. But, the present financial issues have been big hurdles. There are so many victims found dead on the roadside.

Please Log in or Create an account to join the conversation.

  • Page:
  • 1
  • 2
Time to create page: 0.153 seconds

Copyright Information

Copyright Fas Kuiters © 2016 young-foxes.com. All Rights Reserved.
This page is made with Joomla CMS and its various templates designed by Fas Kuiters with the excellent Themler tool.

 

 

Shared Spreadsheet Links

DOV´s Revised Projections for the Periods 2017 until 2020

Shareble link : HERE

Fas Kuiters Websites