CLEVELAND--(BUSINESS WIRE)--Athersys, Inc. (“Athersys”) (NASDAQ: ATHX) announced today that its partner in Japan, HEALIOS K.K. (“Healios”), exercised in full its warrant to purchase shares of Athersys common stock. Healios purchased 4,000,000 shares at a price of $1.76 per share in accordance with the terms of the warrant, representing an additional investment of $7,040,000 in Athersys.
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.
Healios previously purchased 12,000,000 shares of Athersys common stock and now owns approximately 9.4% of the current outstanding shares of Athersys. There are no other warrants outstanding.
Athersys is a biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing its MultiStem® cell therapy product, a patented, adult-derived "off-the-shelf" stem cell product, initially for disease indications in the neurological, inflammatory and immune, cardiovascular and other critical care indications and has several ongoing clinical trials evaluating this potential regenerative medicine product. Athersys has forged strategic partnerships and a broad network of collaborations to further advance the MultiStem cell therapy toward commercialization. More information is available at www.athersys.com. Follow Athersys on Twitter at www.twitter.com/athersys.