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TOPIC: New Conditions and Conference Call today 06-06-16

New Conditions and Conference Call today 06-06-16 06 Jun 2016 06:55 #7159

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As could be expected...

SAN DIEGO--(BUSINESS WIRE)-- Cytori Therapeutics, Inc. (NASDAQ: CYTX) announced today it has extended the subscription period and adjusted the subscription price for its previously announced rights offering until 5:00 PM Eastern Time on Friday, June 10, 2016. Rights holders will need to exercise their subscription rights prior to that date and time. The adjusted unit pricing is now $2.55 per unit. Furthermore, Cytori invites stockholders to call in for a corporate presentation on Monday, June 6, 2016, at 2:00 PM Eastern Time.
The dial-in information is as follows:

Dial-In Number: +1-877-402-3914
Conference ID: 27860205

The corporate presentation can be accessed through the following link: Cytori Corporate Presentation
Investors that have subscribed at the previous price will now receive the new adjusted price, and any excess payment amount will be returned to investors following the closing of the offering. If exercising subscription rights through a broker, dealer, bank or other nominee, rights holders should promptly contact their nominee and submit subscription documents and payment for the units subscribed for in accordance with the instructions and within the time period provided by such nominee. The broker, dealer, bank or other nominee may establish a deadline before June 10, 2016, by which instructions to exercise subscription rights, along with the required subscription payment, must be received.
All record holders of rights certificates that wish to participate in the rights offering must deliver a properly completed and signed rights certificate, together with payment of the subscription price for both basic subscription rights and any oversubscription privilege election, to the Subscription Agent, to be received before 5:00 PM Eastern Time on June 10, 2016. The Subscription Agent is:
By mail: By hand or overnight courier:
Broadridge Corporate Issuer Solutions, Inc.
Broadridge Corporate Issuer Solutions, Inc.
Attn: BCIS Re-Organization Dept. Attn: BCIS IWS
P.O. Box 1317 51 Mercedes Way
Brentwood, New York 11717-0693 Edgewood, New York 11717
855-793-5068 (toll free)
855-793-5068

Under the rights offering, Cytori has distributed one non-transferable subscription right for each share of common stock held on the previously announced record date of May 20, 2016. Each right entitles the holder to purchase one unit at the subscription price of $2.55 per unit, composed of one share of common stock and 0.5 of a warrant, with each whole warrant exercisable to purchase one share of common stock at an exercise price of $3.06 per share for 30 months from the date of issuance. Cytori has applied to list the warrants on NASDAQ, although there is no assurance that a sufficient number of subscription rights will be exercised so that the warrants will meet the minimum listing criteria to be accepted for listing on NASDAQ under the symbol “CTYXW.” The warrants may be redeemed by Cytori prior to their expiration if Cytori’s common stock closes above $7.65 per share for 10 consecutive trading days. The subscription rights are non-transferrable and may only be exercised during the anticipated subscription period commencing today through 5:00 PM Eastern Time on Friday, June 10, 2016, unless extended. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

New Conditions and Conference Call today 06-06-16 06 Jun 2016 08:06 #7160

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Offering down to $0.17 pre split...that's more like the Maxim we know...LOL Of course even more shares are being floated now.
Certainly the PPS has suffered but could they also be facing investor backlash ?
Where is my Sabby-like 1:1 warrant per share ?

To put it all in Lloyd Dean terms...Dilution 10x your wildest dreams ! :joy: :cry:
The following user(s) said Thank You: CalhounDoppelganger

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 13:35 #7165

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Rothco is going to love the fact that there was no Q&A. I was surprised myself. Can't say that I blame them.

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 13:41 #7166

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The conference call was a complete waste of time. No pertinent information shared. Typical Cytori , just ignore the issues and hope they go away. Street if you were at all impressed or satisfied with this call I call bullshit. Anyone willing to participate in offering based on this I call bullshit. Just a complete slap in the face.

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 13:51 #7167

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Not impressed Rothco since it was just a rehash and nothing new. The one thing I think I heard of interest is that management and the BOD will be participating in the offering. To what extent, I don't know.

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 14:06 #7169

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was hoping Hedrick might announce a 20% slash in BOD salary.... :joy:

The level of incompetence is amazing. My street sense whispered something about Calhoun's demeanor back in 2009 à la CRAZY EDDIE (bankrupt), but I just dismissed it figuring he was energetic and overly excited at the prospects of the tech.

Fooled myself.

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 14:34 #7170

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WST wrote:

I think I heard of interest is that management and the BOD will be participating in the offering. To what extent, I don't know.


Yes that was one of Maxims claims when they called me. Seems to me if the "participation" was substantial it would have been clearly stated. It certainly is not reflected in the PPS. We are at less than sixteen cents pre split. I wonder how much Cytori is paying Maxim for their advisory role in this deal? Honestly I really don't want to know. Titan, you could write a book on this company and teach a business school class. Trump University maybe?

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 14:41 #7171

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fatboy, no one would pay to attend.

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 14:45 #7172

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fatboy, no one would pay to attend.


No one from this board we have been schooled already! :grin:

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New Conditions and Conference Call today 06-06-16 06 Jun 2016 14:50 #7173

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This is an interesting dilemma for Cytori. How long do they wait before they reprice again? Investors will soon begin pulling their exercise instructions if the shares go much lower. As I said, it is rather apparent that shareholders have been selling core positions to fund participation in the rights offering in order to obtain the warrants at no cost and, as it turns out, cheaper shares. If they wait too long existing rights exercise orders will be rescinded. If they repriceit too soon, they open the company up to more dilution. To complicate matters some brokers require 1 or 2 days advance notice before the official deadline.

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