Pluristem had been expected to raise $40-50 million in the offering.
After a 193% rise in its share price since the beginning of 2011, stem cell therapy developer Pluristem Therapeutics Ltd. (Nasdaq:PSTI; TASE: PLTR; DAX: PJT) today announced that it plans to raise $35.8 million in an offering of 11,000,000 units comprising of shares and warrants. The share price fell 27.9% in early trading on Nasdaq to $3.03, giving a market cap of $81 million.
Each unit will comprise one share and one warrant for the purchase of 0.4 shares. The company priced the units at $3.25 each. The offering is priced at a 33% discount on yesterday's closing price on Nasdaq.
Pluristem had been expected to raise $40-50 million in the offering.
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2011
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