Business
Cryoport Announces Pricing of Public Offering of Common Stock
NASHVILLE, Tenn., Jan. 20, 2021 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX) ("Cryoport" or the "Company"), a global leader in temperature-controlled supply
About this update from Cryoport, Inc.
[{"type":"text","content":"NASHVILLE, Tenn., Jan. 20, 2021 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX) (\"Cryoport\" or the \"Company\"), a global leader in temperature-controlled supply chain solutions for the life sciences industry, today announced the pricing of its underwritten public offering of an aggregate of 3,787,878 newly issued shares of common stock at a public offering price of $66.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 568,181 shares of common stock. The net proceeds to the Company from the offering of the shares are expected to be approximately $234.5 million after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, and assuming no exercise of the underwriters' option to purchase additional shares. Subject to customary conditions, the offering is expected to close on January 25, 2021.\n\n \n \n \n \n \n \n\n \nThe Company expects to use the net proceeds from the offering of the shares for general corporate purposes, which may include working capital, inventory development, global infrastructure buildout and facilities expansion, sales and marketing.\nMorgan Stanley, Jefferies, SVB Leerink, and UBS Investment Bank are acting as joint book-running managers for the offering. \nThe public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (the \"SEC\") and automatically became effective upon filing. A final prospectus supplement and accompanying prospectus relating to and describing the final terms of the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov or may be obtained, when available, from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Jefferies, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at [email protected]; SVB Leerink, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6132 or by email at [email protected]; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Amer...