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Brainstorm Cell Therapeutics (BCLI) Announces Pricing of $7.5 Million Registered Direct Offering

July 17, 2023 9:16 AM EDT

BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI) (the "Company"), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced that it has entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 4,054,055 shares of the Company's common stock and warrants to purchase up to an aggregate of 4,054,055 shares of common stock in a registered direct offering. Each share of common stock is being offered in the offering together with a warrant to purchase one share of common stock at an offering price of $1.85 per share. The warrants will have an exercise price of $2.00 per share, will be immediately exercisable and will expire five years from the date of issuance.

The offering is expected to close on or about July 19, 2023, subject to satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent for the offering.

The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses payable by the Company, are expected to be approximately $7.5 million.

The securities are being offered and sold by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-258640) filed with the U.S. Securities and Exchange Commission (the "SEC") on August 9, 2021 and declared effective by the SEC on August 19, 2021. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3745.



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