Athersys plans to sell $12 million in securities to raise cash for operations

Athersys logo

Athersys Inc., the Cleveland-based regenerative medicine company, could raise up to $12 million by selling its shares and warrants to “a single healthcare-focused U.S. institutional investor.”

The unnamed institutional investor has agreed to acquire up to 48 million shares of Athersys stock, stock equivalents and warrants for 25 cents apiece in a deal expected to close by Aug. 17, the Cleveland company said in a Monday statement.

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Story excerpt provided by Cleveland Business Journal.

Written by Mary Vanac.

Originally published August 15, 2022.

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