RANCHO CORDOVA, Calif., March 4, 2011 /PRNewswire/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that it has determined the pricing for an offering of shares and warrants. The Company intends to sell 2,250,000 shares of common stock at $2.00 per share and warrants to purchase an aggregate of 1,125,000 shares of common stock at a price of $2.64 per share. Houlihan Lokey Capital, Inc. acted as the exclusive placement agent for the offering.
The shares and warrants are being offered pursuant to the Company's effective registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC) on January 6, 2011. The shares and warrants may be offered only by means of a prospectus. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants will not be exercisable prior to six months after issuance and will be exercisable for a period of five years after the closing of the transaction. The closing of the offering is expected to take place on March 9, 2011, subject to usual and customary closing conditions.
Additional information and details with respect to the offering will be included in a final prospectus supplement and related prospectus that will be filed with the Securities and Exchange Commission prior to closing. When available, copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or from Houlihan Lokey Capital, Inc., One Sansome Street, Suite 1700, San Francisco, CA 94104.
This press release shall 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 state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About ThermoGenesis Corp.
ThermoGenesis Corp. (www.thermogenesis.com) is a leader in developing and manufacturing automated blood processing systems and disposable products that enable the manufacture, preservation and delivery of cell and tissue therapy products. These include:
- The BioArchive® System, an automated cryogenic device, used by cord blood stem cell banks in more than 30 countries for cryopreserving and archiving cord blood stem cell units for transplant.
- AXP® AutoXpress™ Platform (AXP), a proprietary family of automated devices that includes the AXP and the MXP™ MarrowXpress™ and companion sterile blood processing disposables for harvesting stem cells in closed systems. The AXP device is used for the processing of cord blood. The MXP is used for the preparation of cell concentrates, including stem cells, from bone marrow aspirates in the laboratory setting.
- The Res-Q™ 60 BMC (Res-Q), a point-of-care system designed for the preparation of cell concentrates, including stem cells, from bone marrow aspirates.
- The CryoSeal® FS System, an automated device and companion sterile blood processing disposable, used to prepare fibrin sealants from plasma in about an hour. The CryoSeal FS System is approved in the U.S. for liver resection surgeries. The CryoSeal FS System has received the CE-Mark which allows sales of the product throughout the European community.
This press release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes to differ materially from those contemplated by the forward-looking statements. Several factors including timing of FDA approvals, if obtained, changes in customer forecasts, our failure to meet customers' purchase order and quality requirements, supply shortages, production delays, changes in the markets for customers' products, introduction timing and acceptance of our new products scheduled for fiscal year 2011, and introduction of competitive products and other factors beyond our control could result in a materially different revenue outcome and/or in our failure to achieve the revenue levels we expect for fiscal year 2011. A more complete description of these and other risks that could cause actual events to differ from the outcomes predicted by our forward-looking statements is set forth under the caption "Risk Factors" contained in, or incorporated into, the applicable prospectus supplement or in our annual report on Form 10-K and other reports we file with the SEC from time to time, and you should consider each of those factors when evaluating the forward-looking statements. Additional risks not known to us or that we believe are immaterial may also adversely affect our business, operating results and financial condition and the value of an investment in our securities. These forward-looking statements speak only as of the date of this press release. We assume no obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any changes in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Web site: http://www.thermogenesis.com
Contact: Investor Relations
SOURCE ThermoGenesis Corp.