secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001104659-25-002898
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CytoSorbents closes oversubscribed rights offering, raises $6.25M, unlocks $5M restricted cash
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- Rights offering raised $6.25M gross from all 6.25M Units; oversubscribed 68% with 10.5M Units demanded.
- Proceeds satisfy debt covenant, releasing $5.0M of restricted cash; net liquidity increase ~$10.8M.
- Preliminary unaudited cash (incl. restricted) at Dec 31, 2024: $9.6M; pro forma $15.4M unrestricted $13.9M.
- Q4 2024 cash burn est. $2.6M vs Q3 $2.7M; full audited results expected March 6, 2025.
- Right Warrants exercisable at 90% of VWAP; Series A floor $1.00 cap $2.00, Series B floor $2.00 cap $4.00.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465925002898/0001104659-25-002898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465925002898/tm253092d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-002898

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