Athersys Inc to sell 19.8m common shares in a public offering 

Athersys Inc to sell 19.8m common shares in a public offering

Oct 29, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Biotechnology company Athersys Inc (nasdaqcm:ATHX) said on Friday that it has agreed to sell 19,802,000 common shares in a public offering at USD1.01 per share to existing and new investors.

The underwriters have been provided with an over-allotment option to purchase an additional 2,970,300 shares of its common stock.

Net proceeds from the offering are expected to be used by the company for working capital, general corporate purposes and the funding of its ongoing clinical trials.

Piper Jaffray & Co is acting as the sole book-running manager of the offering which is expected to close on 31 October 2012, subject to customary closing conditions.

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