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RegMed Investors (RMi): BrainStorm Cell Therapeutics (BCLI) Prices $4 Million Registered Direct Offering (RDO) at $0.36 of 11.11 million shares and 16.66 million warrants at $0.36

June 27, 2024 1:22pm

BCLI is trading at $0.34 or -$0.0451 or -$11.56%

Maxim Group LLC is acting as the sole placement agent for the offering.

… Walk away …

BrainStorm Cell Therapeutics Inc. (BCLI) has entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 11,111,111 shares of BCLI's common stock (or prefunded warrants in lieu thereof) at a purchase price of $0.36 per share in a registered direct offering.

Yesterday, 6/26/24, BCLI, a developer of adult stem cell therapeutics for neurodegenerative diseases, today announced it has reached alignment with the FDA on the Chemistry, Manufacturing, and Controls (CMC) aspects of BCLI's P3b clinical trial for NurOwn®, its investigational therapy for amyotrophic lateral sclerosis (ALS).

The NEW warrants - 16.666 milion have an exercise price of $0.3912 per share, will be exercisable six months from the date of issuance and will expire five years from the date of issuance.

The Bottom Line: a desperate move by a bottom feeder, as usual a last-minute offering.

Which also caused BCLI In connection with the offering, to reduce the exercise price of 4,054,055 common stock warrants previously issued on July 19, 2023 to and currently held by the Holder to $0.3912 per warrant share and will extend those warrant expiration dates into 2029.

WALK …!!

The offering is expected to close on or about June 28, 2024, subject to satisfaction of customary closing conditions.

35 companies, 1 interpreter!

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