Cytosorbents (CTSO) Prices 5.26M Common Share Offering at $9.50/Sh

CytoSorbents Corporation (NASDAQ: CTSO) today announced the pricing of its previously announced underwritten public offering of 5,263,158 shares of its common stock at a public offering price of $9.50 per share, resulting in gross proceeds of approximately $50.0 million before deducting underwriting discounts and commissions and other offering expenses.

The offering is expected to close on July 24, 2020, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 789,473 additional shares of common stock at the public offering price less the underwriting discount.

The Company intends to use the net proceeds from this offering for general corporate purposes, including an expansion of the Company's manufacturing, R&D and administrative offices, to fund clinical studies in the United States and abroad, support its sales and marketing efforts and further develop its products.

Cowen and SVB Leerink are acting as joint book-running managers of the offering. B. Riley FBR is acting as co–manager for the offering.

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