Athersys (ATHX) Enters $9M Private Placement, Will Issue 4.35M Common

Athersys, Inc. (Nasdaq: ATHX), has entered into definitive agreements with certain accredited investors in connection with a private placement financing transaction. Upon the closing of the transaction, Athersys will receive gross proceeds of approximately $9.0 million in exchange for the issuance of approximately 4,347,827 shares of Athersys common stock and warrants to purchase approximately 4,347,827 shares of Athersys common stock. The warrants will be exercisable for a period of five years at an exercise price of $2.07 per share. Athersys intends to use the net proceeds of the transaction to support its ongoing business development and clinical efforts, and for general corporate purposes.

Piper Jaffray & Co. acted as sole lead placement agent for the offering, William Blair & Company and First Analysis Securities Corporation acted as co-placement agents and WBB Securities, LLC acted as financial advisor.

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