Indication intelligence, analysis and sector perception

Athersys (ATHX); HEALIOS K.K., its partner in Japan exercised in full its 4 million warrants to purchase shares at $1.76

March 30, 2020 10:18am

Shares are UP +$0.32 or +16.326 to $2.29 – SELL on strength

Representing an additional investment of $7,040,000

The BOTTOM LINE is ...

Athersys (ATHX) announced today that its partner in Japan, HEALIOS K.K. ("Healios"), exercised in full its warrant to purchase 4 million shares. Healios purchased shares at a price of $1.76 per share in accordance with the terms of the warrant.

This warrant was issued to Healios in March 2018 as part of an expansion of the collaboration between the companies.

This expansion agreement set the warrant exercise price at 110% of the average price per share over the ten days preceding exercise, or $1.76 per share so long as the reference price remained below this floor.

The BOTTOM LINE: For a share that has been flat for so long with multiple financings – how long will this pricing be sustainable. NPT a believer in ATHX.

Healios had previously purchased 12 million shares of ATHX’s stock and now owns approximately 9.4% of the current outstanding shares. There are no other warrants outstanding.

35 companies, 1 interpreter!

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