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news.Cytori Therapeutics has entered into a strategic equity agreement with Green Hospital Supply under which Green Hospital Supply, Cytori's StemSource commercialization partner for Japan, will purchase two million shares of unregistered Cytori common stock at $6 per share and be granted a non-voting observer seat on Cytori's board of directors.
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The transaction will close on or before February 28, 2008, subject to satisfaction of customary closing conditions. Following the transaction, Green Hospital Supply’s ownership in Cytori will increase to three million shares, representing 11.5% of Cytori’s total shares outstanding.
Christopher Calhoun, CEO of Cytori Therapeutics, said: “This deal provides us with capital to invest in the development and commercialization of our Celution System.”