Cytori Therapeutics Inc. announced that it has completed the sale of shares of its Series A 3.6 percent convertible preferred stock pursuant to a registered direct offering representing gross proceeds of about $13.5 million.

The preferred stock is convertible into shares of Cytori’s common stock at the option of the investors at a conversion price of $0.52. Cytori (NASDAQ: CYTX) also issued warrants to purchase an aggregate of 25,961,541 shares of Cytori’s common stock at an exercise price of $0.5771 per share in the offering.

The company said it plans to use the net proceeds from this offering for working capital and general corporate purposes, which include funding its ongoing and future clinical studies.

Roth Capital Partners acted as the lead placement agent for the offering and Maxim Group LLC served as a co-placement agent for the offering.