ThermoGenesis Announces Stockholder Authorization of Reverse Split

RANCHO CORDOVA, Calif., Aug. 11 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that its Board of Directors has unanimously approved a reverse split of the Company's common stock at a ratio of one new share for each four existing shares, effective at the close of business on Thursday, August 26. This decision follows stockholder approval of an authorization enabling the Board of Directors to affect a reverse stock split in the range of one-for-three to one-for-five shares of common stock at a special stockholder meeting on Monday, August 9.

The reverse stock split will apply to all shares of the Company's common stock issued and outstanding, plus all outstanding stock options, restricted stock and the number of shares of common stock available for issuance under the Company's approved stock plans.

Computershare Trust Company, together with its affiliate Computershare, Inc., the transfer agent for the Company, will act as Exchange Agent for the exchange. Stockholders will receive the forms and notices to exchange their existing shares for new shares from the Exchange Agent or their broker after August 26, 2010. No fractional shares will be issued if, as a result of the reverse stock split, a registered stockholder will otherwise become entitled to a fractional share. Instead, stockholders who otherwise would be entitled to receive fractional shares because they hold a number of shares not evenly divisible by four, will automatically be entitled to receive an additional share of common stock. In other words, any fractional share will be rounded up to the nearest whole number. Additional details related to the reverse stock split may be obtained from the Company's Proxy statement dated June 29, 2010. A copy of the Proxy Statement is available on the Company's web site under SEC filings at www.thermogenesis.com.

The Company said a reverse split may enable it to meet the continued listing rules of the NASDAQ Capital Market, and could serve to improve the marketability and liquidity of its common stock over the long term.

"We appreciate the support of our stockholders in approving this authorization given the timeline we have with our current NASDAQ listing," said J. Melville Engle, Chief Executive Officer of ThermoGenesis.

"As we begin what we believe will be an exciting fiscal 2011, the Company continues to successfully implement its long-term strategy to enhance stockholder value. We announced on July 19, 2010, the Company expects revenues for the quarter ended June 30, 2010 to be approximately $7.3 million. This represents an increase of more than $2 million or 53% versus the prior quarter.  We also announced the Company expects to report a small net loss for the fourth fiscal quarter, in the range of $150,000 and $450,000, subject to final audit adjustments. We believe these results demonstrate the success of our continued focus on the development of enabling technologies for the stem cell regenerative medicine market," Engle added.

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, is 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 that is 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, is 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, and such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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, 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 years 2010 and 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 2010 and 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" in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.

SOURCE ThermoGenesis Corp.