H-CYTE Announces Proceeds of $1.05 Million from Warrant Exercise

Rhea-AI Summary

H-CYTE, Inc. announced the exercise of 75,257,511 warrants, generating $1,053,605 in capital. This funding will aid the company in transitioning to a hybrid-biopharmaceutical model through strategic acquisitions and bolster general working capital. Additionally, holders of the exercised warrants received inducement warrants with a five-year term at an exercise price of $0.014. CEO Michael Yurkowsky emphasized that this capital injection will facilitate the expansion of new diagnostics, therapeutics, and medical devices, enhancing the company's commitment to treating chronic conditions and orphan diseases.

Positive

• Generated $1,053,605 from warrant exercises.
• Funds to support transition to a hybrid-biopharmaceutical company.
• Enhances portfolio of diagnostics, therapeutics, and medical devices.

Negative

• None.

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
HCYT@alpha-ir.com
312-445-2871

Source: H-CYTE, Inc.

FAQ

What is the latest funding update for HCYT?

H-CYTE has raised $1,053,605 through the exercise of 75,257,511 warrants.

How will HCYT use the proceeds from the warrant exercise?

The funds will support the company's transition to a hybrid-biopharmaceutical model and general working capital.

What are the terms of the inducement warrants issued by HCYT?

The inducement warrants have a five-year term with an exercise price of $0.014.

What is HCYT's focus in terms of product development?

H-CYTE is focused on developing diagnostics, therapeutics, and medical devices for chronic health conditions and orphan diseases.