BOTHELL, Wash., April 30, 2018 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), the leading
developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media, today
announced the receipt of $2.6 million in proceeds from the exercise of 540,896 common stock
purchase warrants since April 2, 2018. Each warrant was exercised to purchase one share of
common stock for $4.75 per share. The warrants were issued as part of a financing completed in
March 2014, and were exercised by several unaffiliated holders. No inducements or incentives
were offered to the parties exercising the warrants.
Roderick de Greef, Chief Financial Officer, commented, "Our balance sheet continues to
strengthen with the $2.6 million of cash received from the exercise of these warrants, combined
with our March 31, 2018 cash balance of $7 million and ongoing
positive cash flow from operations."
About BioLife Solutions
BioLife Solutions is the leading developer, manufacturer and supplier of proprietary, clinical-grade biopreservation media for
cells and tissues. Our HypoThermosol® hypothermic storage and CryoStor® cryopreservation freeze media are
highly valued in the regenerative medicine, biobanking and drug discovery markets. These novel biopreservation media products are
serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering
commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function.
For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
Cautions Regarding Forward Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited
to, statements concerning the company's anticipated business and operations, guidance for financial results in 2018, including
achieving GAAP operating profit, EBITDA, adjusted EBITDA and cash flow from operations, the potential utility of and market for
its products and services, potential revenue growth and market expansion, regulatory approvals and/or commercial manufacturing of
our customers' products, and potential customer revenue. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and
are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those
described in the forward-looking statements, including among other things, uncertainty regarding market adoption of products;
uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors
described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including
our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the forward-looking
statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required
by applicable law.
BioLife Solutions, Inc.
Media & Investor Relations
Roderick de Greef
Chief Financial Officer
(425) 686-6003
rdegreef@biolifesolutions.com
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SOURCE BioLife Solutions, Inc.