San Diego-based developer of stem cell therapies Cytori Therapeutics Inc. recently announced a public sale of $20 million in stock, at $2.85 per share. The company expects to net $18.5 million after deducting standard expenses. The offering is expected to close Dec. 19.
Cytori said it plans on using the proceeds to continue the development, manufacture, marketing and sales of its Celution System family of products, which extract stem cells from a person’s body fat.
The company’s stock closed down 48 cents at $2.84 after the previous day’s announcement.
— SDBJ Staff Report