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Organovo Holdings, Inc. announces redemption of 2.9 million outstanding warrants
Date:2/5/2013

ne of the warrant holders exercise their warrants prior to the redemption date the Company will redeem and cancel all affected warrants at an aggregate cost of approximately $293. 

Approximately 16.7 million warrants were originally issued as part of a first quarter 2012 private placement in which the Company raised $15.2 million.  Prior to this Notice of Redemption approximately 13.8 million shares had been exercised.  This included 9.5 million shares as a part of Organovo's tender offer which closed Dec. 21, 2012, the shares resulting from which were able to be sold starting Jan. 4, 2013. In addition, approximately 1.6 million placement agent warrant shares had been exercised or cancelled.  Following the warrant redemption, warrants to purchase 4.5 million shares will remain outstanding and are not affected by the redemption notice.  These warrants were issued to the placement agent during the 2011 and 2012 private placement financings.

Keith Murphy , Chairman and Chief Executive Officer, commented "Organovo has made great progress in executing on its plan to remove warrant overhang on our stock and decrease derivative liability from our balance sheet, as part of a larger goal to pursue a senior listing.  We appreciated the positive response of investors to our closing of the Warrant tender offer on Dec. 21, and hope to find continued support for this Notice of Redemption, which we believe paves the way for the continued creation of shareholder value."

About Organovo Holdings, Inc. 
Organovo designs and creates functional, three-dimensional human tissues for medical research and therapeutic applications. The company is collaborating with pharmaceutical and academic partners to develop human biological disease models in three dimensions. These 3D human tissues have the potential to accelerate the drug discovery process, enabling treatments to be developed faster and
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SOURCE Organovo Holdings, Inc.
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