Investigating Potential Claims involving Cytori Therapeutics Inc.
The White Law Group is investigating potential securities claims involving broker-dealers who may have unsuitably recommended Cytori Therapeutics Inc. to investors.
Cytori Therapeutics is a cell therapeutic/device company focusing on autologous adipose-derived stem and regenerative cells (ADRCs) driven cell therapies to treat cardiovascular disease and soft tissue disorders.
In November 2017, Cytori Therapeutics, Inc. (NASDAQ:CYTX) closed its rights offering to subscribe for units at a subscription price of $1,000 per unit, according to a press announcement.
The company reportedly sold an aggregate of 10,000 units consisting of an aggregate of 10,000 shares of Series B Preferred Stock and 18,000,000 warrants, with each warrant exercisable for one share of common stock at an exercise price of $0.3333 per share, resulting in gross proceeds to Cytori of $10.0 million.
Laidlaw and Company was the underwriter for the offering, according to the news release.
Unfortunately for investors, while Cytori was trading at $47 in 2014, the company saw steep declines in 2018 when it was selling for just $0.28 per share, according to MarketWatch. The company changed its name to Plus Therapeutics (PSTV) in July 2019, citing a need for a new identity, according to a press annoucement.