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StemCells Inc announces closing of $20 mln offering

Friday, 18 Jul 2014 01:40pm EDT 

StemCells Inc:Announced that it has closed its previously announced offering of common stock and short term warrants.Says it sold a total of 11,299,435 units to two well recognized institutional biotechnology investors and received total proceeds, net of offering expenses and placement agent fees, of about $18.7 million.Each unit consists of one share of common stock and a warrant to purchase 0.85 of a share of common stock at a price of $1.77 per unit.Warrants will first be exercisable six months from the date of issuance at an initial exercise price of $2.17 per share.Warrants will expire at the close of business on Aug. 17, 2015.Ascendiant Capital Markets, LLC acted as financial advisor and placement agent for the offering. 

Company Quote

-0.02 -1.72%
25 Nov 2014