H-CYTE Announces Proceeds of $1.05 Million from Warrant Exercise
Proceeds to Support Inorganic Growth and General Working Capital Purposes
TAMPA, Fla., March 04, 2022 (GLOBE NEWSWIRE) -- H-CYTE, Inc. (OTCQB: HCYT), a medical biosciences company, announced today that it has received $1,053,605 from the exercise of 75,257,511 previously issued warrants. The funds received will be used to fund the Company’s transition to a hybrid-biopharmaceutical company through strategic acquisitions, as well as for general working capital purposes. In connection with the exercise, the holders received from the Company immediately exercisable inducement warrants (the “Inducement Warrants”), providing for a five-year term and an exercise price of $0.014, on a one-to-one basis with the Warrants that were exercised.
Michael Yurkowsky, H-CYTE’s Chief Executive Officer said, “With the exercise of these warrants, H-CYTE will use this injection of capital to support the further expansion of our novel portfolio of new diagnostics, therapeutics, and medical devices from concept to commercialization. Through our innovative technology and the addition of H-CYTE’s first FDA approved device through our acquisition of Catheter Precision, we are committed to helping to improve the lives of our patients with chronic conditions and orphan diseases.”
About H-CYTE, Inc.
H-CYTE is a medical biosciences company. H-CYTE’s mission is to become a leader in next-generation, cellular therapeutics for the treatment of chronic health conditions, with the ultimate goal of improving patient lives. For more information about H-CYTE, please visit www.HCYTE.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While H-CYTE believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those outlined in H-CYTE’s filings with the SEC, including but not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. H-CYTE expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
H-CYTE Investor Contact:
Alpha IR Group
Source: H-CYTE, Inc.
Released March 4, 2022