| StemCells announced that it has entered into an agreement to raise approximately $12.5M in gross proceeds through the sale of approximately 10M shares of its common stock to selected institutional investors at a price of $1.25 per share. The investors will also receive warrants to purchase approximately four million shares of common stock at an exercise price of $1.50 per share. The shares and warrants are being offered as a registered direct offering under the Company’s effective shelf registration statement previously filed with the SEC. StemCells, Inc. expects to receive total proceeds, net of offering expenses and placement agency fees, of approximately $11.9M. :theflyonthewall.com |
