Business
Cryoport, Inc. Announces Proposed Registered Direct Placement of Common Stock
NASHVILLE, Tenn., Nov. 8, 2021 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX), a global leader in temperature-controlled supply chain solutions for the life
About this update from Cryoport, Inc.
[{"type":"text","content":"NASHVILLE, Tenn., Nov. 8, 2021 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX), a global leader in temperature-controlled supply chain solutions for the life sciences industry, today announced its intention to offer, subject to market and other conditions, shares of its common stock in a direct placement registered under the Securities Act of 1933, as amended. The number of shares to be sold, and the price per share, will be determined at the pricing of the placement.\n\n \n \n \n \n \n \n\n \nCryoport intends to use the net proceeds from the placement and a portion of net proceeds from the offering of notes referred to below to repurchase a portion of its outstanding 3.00% Convertible Senior Notes due 2025 (the \"2025 convertible notes\") in separate, privately negotiated repurchase transactions with a limited number of holders of the 2025 convertible notes. Cryoport intends to use the remainder of the net proceeds for general corporate purposes.\nHolders of the 2025 convertible notes that participate in any of these repurchases may purchase or sell shares of Cryoport's common stock in the open market to unwind any hedge positions they may have with respect to the 2025 convertible notes or to hedge their exposure in connection with these transactions. These activities may adversely affect the trading price of Cryoport's common stock and the notes being offered. Moreover, market activities by holders of the 2025 convertible notes may impact the initial conversion price of the notes being offered.\nJefferies LLC and SVB Leerink LLC are acting as joint placement agents for the placement.\nThe placement is being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the \"SEC\"). The placement will be made only by means of a prospectus supplement and an accompanying prospectus. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement, together with the accompanying prospectus, can be obtained by contacting: Cryoport, Inc. 112 Westwood Place, Suite 350, Brentwood, TN 37027, Attn: Chief Financial Officer or (949) 470-2300.\nThis press release does not constitute an offer to sell, or the solicitation of an offer to buy, any...