Cryoport, Inc.
(NASDAQ: CYRX, CYRXW) this morning issued a reminder that an investor must own
CYRX, CYRXW or any other Cryoport warrants by 4 p.m. ET today in order to be
considered a record date holder for purposes of the rights offering.
In addition, the
cryogenic logistics solutions provider posted the following rights offering
calendar:
May 24, 2016 –
Rights exercise price pricing period began (85% of the volume weighted average
trading price on NASDAQ of CYRX during the five trading day pricing period,
rounded to the nearest whole penny)
May 25, 2016 –
Ownership day, an investor must own CYRX, CYRXW or any other Cryoport warrants
by 4 p.m. ET to be considered a record date holder for purposes of the rights
offering, which is three trading days before the record date of May 31, 2016
May 26, 2016 – CYRX
shares trade ex-right
May 31, 2016- Record
date and rights exercise price pricing period ends
June 1, 2016 –
Subscription period begins
June 20, 2016 –
Subscription period expires at 5 p.m. ET
According to the
news release, the rights offering will be made through a distribution of
non-transferable subscription rights to purchase one share of common stock for
each share of common stock, or each share of common stock into which warrants
held on the record date are exercisable at an exercise price equal to 85% of
the volume weighted average price per share of Cryoport’s common stock on
NASDAQ for the five consecutive trading days immediately preceding and
including May 31, 2016, rounded to the nearest whole penny; provided that the
rights may only be exercised for a maximum of $10 million of subscription
proceeds or 6,666,667 shares in the aggregate.
The inclusion of an
over-subscription privilege entitles each rights holder that exercises its basic
subscription privilege in full the right to purchase additional shares of
common stock that remain unsubscribed at the expiration of the rights offering.
Both the basic and over subscription privileges are subject to the availability
and pro rata allocation of shares among participants. All basic subscription
rights and over-subscription privileges may be exercised during the
subscription period from June 1, 2016, through June 20, 2016, at 5 p.m. ET.
Cyroport may extend the offering up to an additional 30 days, at its sole
discretion.
The rights offering
is being made pursuant to Cryoport’s effective registration statement on Form
S-1 (Reg. No. 333-210985) on file with the SEC. The offering is being made only
by means of a prospectus, copies of which may be obtained from:
Georgeson LLC 480
Washington Blvd, 26th Floor Jersey City, NJ 07310 cryoport@georgeson.com Toll
Free: (800) 903-2897
Broker dealers
interested in participating in the rights offering should contact Source
Capital Group’s syndicate department at cyrx@sourcegrp.com.
For more information
on Cryoport, visit the company’s website at www.cryoport.com
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