NeoStem announces access to new $30M equity facility NeoStem announced that it has filed today with the U.S. Securities and Exchange Commission a prospectus supplement to its shelf registration statement enabling it to access its new equity facility with Aspire Capital Fund which replaced the prior agreement under which the company received the full $20M in equity funding. Under the new agreement, NeoStem has the right to sell up to $30M in shares of common stock to Aspire Capital subject to certain terms and conditions over a two-year period. The agreement represents an additional tool to provide the company with additional capital and flexibility. As of the March 31, the company had approximately $41M of cash and cash equivalents available to fund operations.
NeoStem spikes higher, levels to watch The shares are spiking sharply, last up more than 45% to $3.30. At that price next resistance is at the session high at $3.47 and then at $3.71. Support is at $3.17.