NeoStem Inc Announces Closing Of Public Offering For $16,500,000 In Gross Proceeds

Neostem Inc. announced the closing of an underwritten public offering of 13,750,000 units at $1.20 per unit. Each unit consists of one share of common stock and a warrant to purchase 0.75 of a share of common stock with a per share exercise price of $1.45. Lazard Capital Markets LLC and JMP Securities LLC acted as joint bookrunners. Morgan Joseph TriArtisan LLC, Maxim Group LLC and National Securities Corporation acted as co-managers of the offering. Gross proceeds were $16,500,000, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. These funds will be used for working capital purposes, including research and development of cell therapeutic product candidates, expansion of business units and other general corporate purposes.