Thermogenesis Prices $2.05 Million Public Offering

ThermoGenesis Holdings (NASDAQ:THMO) News:

ThermoGenesis Holdings (NASDAQ:THMO) (the “Company”), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, announced the pricing of its public offering of 11,783,572 shares of its common stock, $0.001 par value (the “Common Shares”) (or pre-funded warrants to purchase Common Shares in lieu thereof) and warrants to purchase up to an aggregate 11,783,572 Common Shares at an offering price to the public of $0.14 per share (or pre-funded warrant to purchase Common Shares in lieu thereof) and associated warrant.

H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

Each Common Share (or pre-funded warrant to purchase Common Shares in lieu thereof) was sold in a unit together with one warrant to purchase one Common Share (the “Warrants”) in this offering, but will be issued separately. The Warrants will be exercisable at an exercise price of $0.14 per share beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Warrants (the “Warrant Stockholder Approval”) and will expire on the fifth anniversary of the effective date of the Warrant Stockholder Approval.  The offering is expected to close on or about October 28, 2022, subject to satisfaction of customary closing conditions.

The gross proceeds to the Company before deducting the placement agent fees and offering expenses are expected to be approximately $2.05 million, excluding the proceeds, if any, from the exercise of the Warrants. The Company intends to use the net proceeds to acquire various equipment, hire personnel, and to fund other expenses, all in furtherance of its planned Contract Development and Manufacturing Organization (or CDMO) for cell and cell-based gene therapies business, and for other general corporate purposes, including working capital.

A registration statement on Form S-1, as amended (File No. 333-264242), relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on October 25, 2022. This offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to and describing the terms of the offering has been filed with the SEC. Copies of the preliminary prospectus, and when available, copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC’s website at or from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at [email protected] or by telephone at (212) 856-5711.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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