Pluristem Therapeutics Raises $2.7 Million in Private Placement of Restricted Common Stock

Pluristem Therapeutics Raises $2.7 Million in Private Placement of Restricted Common Stock

HAIFA, Israel, Apr 27, 2010 (GlobeNewswire via COMTEX) -- Pluristem Therapeutics Inc. /quotes/comstock/15*!psti/quotes/nls/psti (PSTI 1.36, +0.04, +3.03%) (DAX:PJT) today announced that it has entered into definitive agreements with selected investors to sell restricted common stock and warrants for aggregate gross proceeds of approximately $2.7 million. The offering includes 2,420,293 shares of common stock, warrants to purchase 726,088 shares of common stock at an exercise price of $1.25 per share and warrants to purchase 726,088 shares of common stock at an exercise price of $1.40 per share. The warrants will be exercisable for a period of two and a half years and five years respectively commencing six months following the issuance thereof. The closing is scheduled to take place no later than close of business today, April 27, 2010.

The shares of common stock and warrants being sold in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute any offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

This document contains forward-looking statements within the Private Securities Litigation Act of 1995 and other federal securities laws. Any statements contained in this press release that do not describe historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include but are not limited to those relating to the closing of the transaction due to unforeseen circumstances beyond Pluristem's control. Pluristem cautions readers not to place undue reliance on any forward-looking statements which speak only as of the date they are made. Except as required by law, Pluristem disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

About Pluristem

Pluristem is a clinical stage biotechnology company with proprietary technology for the development and manufacturing of standardized cell therapies derived from the human placenta. Pluristem's patented and scalable PLX (PLacental eXpanded) cell product candidates are developed as readily available for the treatment of critical limb ischemia (CLI) and other diseases.

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