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Cesca Therapeutics Announces Registered Direct Offering

RANCHO CORDOVA, Calif., March 26, 2018 (GLOBE NEWSWIRE) -- Cesca Therapeutics Inc. (KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, announced that it has entered into definitive purchase agreements with certain institutional investors to sell in a registered direct offering 609,636 shares of its common stock at a purchase price of $2.27 per share.  Additionally, the investors will receive unregistered warrants to purchase up to 304,818 shares of common stock.  The warrants have an exercise price of $2.68 per share and shall be exercisable commencing six months following the issuance date of the warrants and will expire 5.5 years from the issuance date. 

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds of this offering are expected to be approximately $1.38 million, before deducting placement agent’s fee and offering expenses. The closing of the offering is expected to occur on or about March 28, 2018, subject to the satisfaction of customary closing conditions.

The shares described above (but not the warrants or the shares underlying the warrants) are being offered pursuant to a “shelf” registration statement (File No. 333-212314) which became effective on August 1, 2016.  Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

A prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the Securities and Exchange Commission (SEC). When available, copies of the prospectus supplement and the accompanying base prospectus may be obtained at the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by telephone at (646) 975-6996 or by email at placements@hcwco.com.

The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the shares of common stock issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cesca Therapeutics Inc.
Cesca Therapeutics develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, Thermogenesis, provides a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. The Company is developing an automated, functionally-closed CAR-TXpress platform that addresses the critical unmet need for better cellular manufacturing and controls (CMC) for the emerging CAR-T immunotherapy market. Cesca is an affiliated company of China-based Boyalife Group.

Forward-Looking Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements include, without limitation, statements with respect to the completion, timing and size of the offering and the expected proceeds from the offering. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics’ forward-looking statements is set forth under the caption "Risk Factors" in Cesca Therapeutics’ annual report on Form 10-K, the transition report on Form 10-KT and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.

Company Contact:
Cesca Therapeutics Inc.
Wendy Samford
916-858-5191
ir@cescatherapeutics.com

Investor Contact:
Rx Communications
Paula Schwartz
917-322-2216
pschwartz@rxir.com