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Cytori closes $10M rights offering

Cytori Therapeutics Inc. closed its rights offering of 10,000 units at a subscription price of $1,000 per unit for gross proceeds of $10.0 million.

The units consist of 10,000 shares of series B preferred stock and 18 million warrants, with each warrant exercisable for 1 common share at an exercise price of 33.33 cents per share.

The warrants will be exercisable upon stockholder approval to increase the company's authorized common shares.

Maxim Group LLC acted as dealer-manager and Laidlaw & Co. (UK) Ltd. acted as financial adviser in the offering.