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OCATA THERAPEUTICS, INC. Message Board

  • dojothegreat33 dojothegreat33 Oct 2, 2013 8:20 AM Flag

    STEM Offering

    StemCells, Inc. (STEM) today announced the pricing of an underwritten public offering of an aggregate of 11,170,000 units at a public offering price of $1.45 per unit. Each unit 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. The Company expects to receive gross proceeds of approximately $16.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company has also granted the underwriters a 30 day option to purchase up to an additional 1,675,500 units to cover over allotments, if any.
    The offering is expected to close on or about October 7, 2013, subject to customary closing conditions.
    Chardan Capital Markets is acting as sole bookrunner for the offering and Maxim Group LLC is acting as co-manager on the deal.

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