Athersys raises $20.5 million in direct offering

Athersys Inc. (NASDAQ:ATHX) raised $20.5 million through the sale of 5 million units at $4.10 in a registered direct offering to institutional investors. Each unit comprises a share and a warrant to purchase 0.3 shares, with each whole warrant exercisable at $4.50. The warrants expire July 15, 2016. Maxim Group and First Analysis Securities are placement agents. Athersys was off $0.05 to $4.00 on Friday. ...