Pluristem raises $17m from private investors

Zami Aberman

The company has raised over $100 million to date.

Stem cell company Pluristem Therapeutics Ltd. (Nasdaq:PSTI; TASE: PLTR) has raised $17 million from private investors through a shelf prospectus. The offering was held at $2.50 per share, with warrants lowering the effective price, compared with a $2.56 share price on the day the offering was announced. Pluristem's market cap is NIS 700 million, after the share dropped 18% in 2014. The offering was held without an underwriter; the Maxim Group investment house distributed the shares.

The offering was Pluristem's first since 2012. The company had $44 million in cash at the end of the first quarter of 2015, before the offering. Pluristem has raised a total of over $100 million on Nasdaq to date.

Pluristem did not specify what use it would make of the proceeds, but the company has a number of clinical trials pending.

Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Zami Aberman
Zami Aberman
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