CryoPort announces closure of $5.0M private placement

CryoPort, Inc. (OTCBB: CYRX) today announced it has closed a private placement with various accredited investors for gross proceeds of $5.0 million. The Company obtained agreements to purchase 9,119,100 shares of common stock at $0.55 per share. For each share of common stock purchased, investors will receive a warrant to purchase one share of common stock at an exercise price of $0.69 per share, pursuant to a Securities Purchase Agreement.

The Company intends to use the proceeds of the private placement for working capital purposes.

Craig-Hallum Capital Group LLC served as the Company's placement agent for the transaction and Emergent Financial Group, Inc. as co-placement agent.

Source:

CryoPort, Inc.

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