Pluri announces additional $2.5M investment from Alejandro Weinstein

Pluri (PLUR) announced that an entity beneficially owned by Alejandro Weinstein, chairman of the board and one of the company’s largest shareholders, has entered into a securities purchase agreement with Pluri for an additional $2.5M investment in the company at a 30% premium to the market price on March 24. This additional investment follows Weinstein’s prior $2.5M investment announced in connection with his appointment as chairman of the board. The securities purchase agreement relates to a private placement offering consisting of: 625,000 common shares, par value $0.00001 per share of the company, and warrants to purchase up to 625,000 common shares of the company. The combined purchase price for each common share and common warrant is $4.00. The warrants are exercisable immediately upon closing of the transaction at an exercise price of $4.25 per share and will be exercisable until the expiration of the eighteen-month anniversary of the closing of the transaction. The gross proceeds to the company from this transaction are expected to be approximately $2.5M. Pluri intends to use the proceeds from the private placement for general working capital and general corporate purposes.