IRVINE, Calif., June 10, 2016 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) (the "Company"), the world's leading cryogenic logistics company, would like to remind its rights offering shareholders and warrant holders of record that they have the right, but not the obligation, to exercise their non-transferable basic subscription rights for $1.55 per common share, which allows its shareholders and warrant holders of record to acquire additional shares of common stock (the "rights offering").
The rights offering also includes an over-subscription privilege, which will entitle each rights holder that exercises its basic subscription privilege in full the right to purchase additional shares of common stock that remain unsubscribed at the expiration of the rights offering. Both the basic and over subscription privileges are subject to the availability and pro rata allocation of shares among participants.
The subscription period ends at 5:00 pm ET on Monday, June 20, 2016. It is important to note that many broker dealers may have different cut off times prior to the official subscription period deadline. As such, Cryoport recommends that all record date rights holders contact their broker or financial advisor about the rights offering to ensure that they can participate by the broker dealer's cut off time for subscriptions. The Company may extend the offering up to an additional 30 days, at its sole discretion.
The exercise price is $1.55. The rights may only be exercised for a maximum of $10,000,000 of subscription proceeds in the aggregate.
The Company has entered into a dealer manager agreement with Source Capital Group, Inc. to act as dealer manager for the rights offering.
The rights offering is being made pursuant to Cryoport's effective registration statement on Form S-1 (Reg. No. 333-210985) on file with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained from:
480 Washington Blvd, 26th Floor
Jersey City, NJ 07310
Toll Free: (800) 903-2897
Source Capital Group invites any interested broker dealers in participating in the rights offering to contact Source's syndicate department at email@example.com for additional details.
This press release shall not and does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Cryoport, Inc.
Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR T-cells and reproductive cells for clients worldwide. Leading global companies, such as FedEx, UPS and DHL have each separately selected Cryoport as the preferred cryogenic logistics provider for time- and temperature-sensitive biological material. Cryoport actively supports points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. For more information, visit www.cryoport.com.
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.'s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, and technical development risks. The company's business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended March 31, 2015. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
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SOURCE Cryoport, Inc.