IRVINE, Calif., May 25, 2016 /PRNewswire/ -- Cryoport,
Inc. (NASDAQ: CYRX, CYRXW) (the "Company"), the world's leading cryogenic logistics company,would like to remind the investment
community that an investor must own CYRX, CYRXW or any other Cryoport warrants by 4:00 PM ET on
Wednesday, May 25, 2016 in order to be considered a record date holder for purposes of the Rights
Offering.
Rights Offering calendar below:
Tuesday, May 24, 2016
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Rights exercise price pricing period began (85% of the volume weighted
average trading price on NASDAQ of CYRX during the five trading day pricing period, rounded to the nearest whole
penny)
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Wednesday, May 25, 2016
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Ownership day, an investor must own CYRX, CYRXW or any other Cryoport
warrants by 4:00 PM ET to be considered a record date holder for purposes of the Rights Offering, which is three trading
days before the record date of Tuesday, May 31, 2016.
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Thursday, May 26, 2016
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CYRX shares trade ex-right
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Tuesday, May 31, 2016
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Record Date and Rights exercise price pricing period ends.
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Wednesday, June 1, 2016
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Subscription period begins
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Monday, June 20, 2016
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Subscription period expires at 5:00 PM ET
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The rights offering will be made through a distribution of non-transferable subscription rights to purchase one share of
common stock for each share of common stock or each share of common stock into which warrants held on the record date are
exercisable at an exercise price equal to 85% of the volume weighted average price per share of our common stock on NASDAQ for
the five consecutive trading days immediately preceding and including May 31, 2016, rounded to the
nearest whole penny; provided that the rights may only be exercised for a maximum of $10,000,000 of
subscription proceeds or 6,666,667 shares in the aggregate.
The rights offering will also include an over-subscription privilege, which will entitle each rights holder that exercises its
basic subscription privilege in full the right to purchase additional shares of common stock that remain unsubscribed at the
expiration of the rights offering. Both the basic and over subscription privileges are subject to the availability and pro rata
allocation of shares among participants. All basic subscription rights and over-subscription privileges may be exercised during
the subscription period from Wednesday, June 1, 2016 through 5:00 PM
ET on Monday, June 20, 2016. The Company may extend the offering up to an additional 30
days, at its sole discretion.
The Company has entered into a dealer manager agreement with Source Capital Group, Inc. to act as dealer manager for the
rights offering.
The rights offering is being made pursuant to Cryoport's effective registration statement on Form S-1 (Reg. No. 333-210985) on
file with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained from:
Georgeson LLC
480 Washington Blvd, 26th Floor
Jersey City, NJ 07310
cryoport@georgeson.com
Toll Free: (800) 903-2897
Source Capital Group invites any interested broker dealers in participating in the rights offering to contact Source's
syndicate department at cyrx@sourcegrp.com for additional
details.
This press release shall not and does 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such jurisdiction.
About Cryoport, Inc.
Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its
purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides
leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR T-cells and reproductive cells
for clients worldwide. Leading global companies, such as FedEx, UPS and DHL have each separately selected Cryoport as the
preferred cryogenic logistics provider for time- and temperature-sensitive biological material. Cryoport actively supports
points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. For
more information, visit www.cryoport.com.
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.'s
intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company's
actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic
conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, and technical
development risks. The company's business could be affected by a number of other factors, including the risk factors listed from
time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended
March 31, 2015. The company cautions investors not to place undue reliance on the forward-looking
statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise
any forward-looking statements in this press release.
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SOURCE Cryoport, Inc.