Cryoport Announces Pricing of Public Offering of Units and Listing on NASDAQ

LAKE FOREST, Calif., July 23, 2015 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the "Company"), the leading provider of advanced cryogenic logistics solutions for the life sciences industry, serving markets including immunotherapies, stem cells, cell lines, clinical research organizations, vaccine manufacturers, animal health, and reproductive medicine, today announced the pricing of an underwritten public offering of 2,000,000 units at an offering price of $3.25 per unit, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. The common stock and the warrants are immediately separable, and will trade on The Nasdaq Capital Market under the symbols CYRX, and CYRXW, respectively.  The warrants will have a per share exercise price of $3.57, are exercisable immediately and will expire five years from the date of issuance.

Gross proceeds to Cryoport from this offering are approximately $6,500,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by Cryoport. Cryoport has granted the underwriters a 45-day option to purchase up to an additional 300,000 units to cover over-allotments, if any. The offering is expected to close on July 29, 2015, subject to customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

Feltl and Company is acting as a co-manager for the offering.

A registration statement on Form S-1 relating to the common stock and warrants was filed with the Securities and Exchange Commission (SEC) and is now effective. A preliminary prospectus relating to the offering, which forms a part of the effective registration statement, has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov. Copies of the final prospectus relating to the offering, when available, may be obtained from the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com, or from the above-mentioned SEC website.

This press release does not and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cryoport, Inc.

Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. We provide leading edge logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide including points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers, and university researchers. Our packaging is built around our proprietary Cryoport Express® liquid nitrogen dry vapor shippers, which are validated to maintain a constant -150°C temperature for a 10 day dynamic shipment duration. Our information technology centers around our Cryoportal™ Logistics Management Platform, which facilitates management of the entire shipment process. Cryoport is the preferred cryogenic logistics solutions partner to the world's largest shipping companies controlling more than 85% of the world's air shipments. For more information, visit www.cryoport.com.

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Forward Looking Statements

Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.'s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, and technical development risks. The company's business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended March 31, 2015. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

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SOURCE Cryoport, Inc.