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StemCells Inc Announces Closing of $18.6 Million Public Offering


Tuesday, 8 Oct 2013 09:00am EDT 

StemCells Inc announced that it has closed its previously announced underwritten public offering of common stock and warrants. The Company sold a total of 12,845,500 units, which includes the underwriter's full over-allotment option. The Company sold the units at a public offering price of $1.45 per unit and received total proceeds, net of offering expenses, underwriting discounts and commissions, of approximately $17.3 million. Each unit sold consists of one share of common stock, par value $.01 per share, and a warrant to purchase one half share of common stock. The warrants have an exercise price of $1.80 per share, are exercisable immediately, and will expire five years from the date of issuance. Chardan Capital Markets acted as sole bookrunner for the offering and Maxim Group LLC acted as co-manager. 

Company Quote

0.9613
-0.0287 -2.90%
19 Dec 2014