CytoSorbents closes $10.3M registered direct offering with insider participation

Cytosorbents Corp

Closed offering of 7,733,090 shares and warrants for 2,706,561 shares at $1.33/unit, gross $10.3M.
Net proceeds ~$9.83M; warrants exercisable at $2.00/share, expire in 5 years.
Insiders (C-suite, board, key leaders) invested $435,000 in the offering.
Proceeds to fund DrugSorb-ATR regulatory efforts, CytoSorb growth, clinical studies, and R&D.
CEO expects initial STAR-T trial data before end of December 2023.

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