SOURCE: CryoPort, Inc.

CryoPort, Inc.

February 25, 2010 09:00 ET

CryoPort, Inc. Announces Pricing of Follow-On Offering

LAKE FOREST, CA--(Marketwire - February 25, 2010) -  CryoPort, Inc. (OTCBB: CYRXD), today announced the pricing of a public offering of units consisting of 1,666,667 shares of CYRX common stock and 1,666,667 warrants to purchase one share of common stock at an exercise price of $3.30, for gross proceeds of $5,000,001 and net proceeds of approximately $4,237,850. Each unit consisting of one share, together with one warrant to purchase one share, was priced at $3.00. The Company also granted a 45-day option to the representative of the underwriters to purchase up to an additional 250,000 units of common stock and warrants to cover over-allotments, if any.

The offering of these securities will be made only by means of a prospectus. The Securities and Exchange Commission has declared a registration statement relating to these securities effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus relating to the offering may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov.

About CryoPort, Inc.

CryoPort (www.cryoport.com) has developed a leading edge, proprietary, technology driven packaging and transport and packaging system focused on providing a solution for the frozen shipping market in the growing global life science industry. The products developed by CryoPort are essential components of the infrastructure required for the testing, research and end user delivery of temperature-sensitive medicines and biomaterials in an increasingly complex logistical environment.

"SAFE HARBOR"

This press release contains forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

Contact Information

  • Contact:
    Stuart Fine
    Carpe DM, Inc.
    908-469-1788