RANCHO
CORDOVA, Calif., March 20,
2023 /PRNewswire/ -- ThermoGenesis Holdings,
Inc. (Nasdaq: THMO), a market leader in automated cell processing
tools and services in the cell and gene therapy field, today
announced the closing of its previously announced purchase and sale
of 1,071,429 shares of its common stock (or common stock
equivalents) and warrants to purchase up to 1,071,429 shares of its
common stock at a purchase price of $2.80 per share of common stock (or common stock
equivalent) and associated warrant in a private placement priced
at-the-market under Nasdaq rules. The warrants have an exercise
price of $2.65 per share, are
exercisable immediately upon issuance and expire five and one-half
years following the issuance.
H.C. Wainwright & Co. was the exclusive placement agent for
the offering.
The gross proceeds to the Company are approximately $3 million. The Company intends to use the net
proceeds from the offering for working capital and general
corporate purposes.
The securities described above were offered in a private
placement under Section 4(a)(2) of the Securities Act of 1933, as
amended (the "Securities Act") and Regulation D promulgated
thereunder and, along with the shares of common stock underlying
the warrants, have not been registered under the Securities Act or
applicable state securities laws. Accordingly, the securities may
not be offered or sold in the United States absent
registration with the Securities and Exchange Commission (SEC) or
an applicable exemption from such registration requirements.
The Company has amended certain existing warrants to
purchase up to an aggregate of 158,731 shares of the Company's
common stock that were previously issued in October
2022 and have exercise price of $6.30 per share by reducing the exercise
price of the warrants to $2.65 per share.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About ThermoGenesis Holdings, Inc.
ThermoGenesis Holdings, Inc. develops, commercializes, and
markets a range of automated technologies for CAR-T and other
cell-based therapies. The Company currently markets a full suite of
solutions for automated clinical biobanking, point-of-care
applications, and automation for immuno-oncology, including its
semi-automated, functionally closed CAR-TXpress™ platform, which
streamlines the manufacturing process for the emerging CAR-T
immunotherapy market. For more information about ThermoGenesis,
please visit: www.thermogenesis.com.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. The forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements contained
herein. When used in this press release, the words
"anticipate," "believe," "estimate," "expect" and similar
expressions as they relate to the Company, or its management are
intended to identify such forward-looking statements, such as
statements regarding the use of proceeds from the offering. Actual
results, performance or achievements could differ materially from
the results expressed in or implied by these forward-looking
statements. Readers should be aware of important factors that, in
some cases, have affected, and in the future could affect, actual
results to differ materially from those expressed in any
forward-looking statements made by or on behalf of the Company.
These factors include without limitation, market and other
conditions, the expected use of the net proceeds from the offering,
the ability to obtain capital and other financing in the amounts
and at the times needed to launch new products, market acceptance
of new products, the nature and timing of regulatory approvals for
both new products and existing products for which the Company
proposes new claims, realization of forecasted revenues, expenses
and income, initiatives by competitors, price pressures, failure to
meet FDA regulated requirements governing the Company's products
and operations (including the potential for product recalls
associated with such regulations), risks associated with initiating
manufacturing for new products, failure to meet Foreign Corrupt
Practice Act regulations, legal proceedings, uncertainty associated
with the COVID-19 pandemic, and other risk factors listed from time
to time in our reports with the Securities and Exchange Commission,
including, in particular, those set forth in ThermoGenesis
Holdings' Form 10-K for the year ended December 31, 2021.
Company Contact:
Wendy Samford
916-858-5191
ir@thermogenesis.com
Investor Contact:
Rx Communications
Paula Schwartz
917-322-2216
pschwartz@rxir.com
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SOURCE ThermoGenesis Holdings, Inc.