Pluristem: Plunges to record low on $20 mln equity raise

Pluri

04/04/2019 15:04

(Updates, adds pricing details)
    ** Shares of Pluristem Therapeutics  PSTI.O  plunge 35% to
record low $0.56, erasing YTD gains, after pricing concurrent
stock deals
    ** Co offers 27.1 mln shares and accompanying warrants to
buy up to same amount of shares, and sells 1.4 mln shares in
registered direct offering for gross combined raise of $20 mln
    ** Both deals price at $0.70/sh, a 19 pct discount to PSTI's
last sale on Weds
    ** Warrants have exercise price of $0.70/sh and term of 5
yrs  urn:newsml:reuters.com:*:nL3N21F4LM
    ** Co to use proceeds R&D, clinical trials and other
corporate purposes
    ** Ladenburg is sole bookrunner
    ** PSTI extends losing streak to four sessions, taking stock
into the red by 27% YTD, following 43% drop in 2018
    ** PSTI having worst day since 40% fall in Nov 2008; Co
market cap sliced a third to ~$67 mln


 (Reporting by Savio D'Souza)
 ((RM: savio.dsouza.thomsonreuters.com@reuters.net
lance.tupper.tr.com@reuters.net))