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Athersys plans public offering of common stock


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Athersys plans public offering of common stock

Athersys Inc. plans to start an underwritten public offering of its common shares.

The company will grant underwriters the option to buy up to an additional 15% of the common shares offered.

Athersys plans to use the net proceeds for working capital, general corporate purposes, funding for its phase 3 MultiStem administration for stroke treatment and enhanced recovery clinical study and other ongoing clinical programs.

William Blair & Co. LLC is acting as sole book-running manager, and Needham & Co. LLC is acting as lead manager for the offering.