StemCells raises $12.5 million through private placement of common stock

Wed. November 04, 2009; Posted: 01:29 PM

Nov 04, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- STEM | Quote | Chart | News | PowerRating -- StemCells, Inc., a US-based clinical-stage biotechnology company that develops and commercializes cell-based technologies, has raised $12.5 million in a registered direct offering.

Announcement (October 28, 2009):

StemCells has entered into an agreement to raise gross proceeds of approximately $12.5 million in a registered direct offering.

StemCells will issue approximately 10 million 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 4 million shares of common stock at an exercise price of $1.50 per share.

StemCells retained Chardan Capital Markets, LLC as placement agent in connection with the offering.

The offering is expected to close on November 2, 2009.

Deal Value (US$ Million) 12.5
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-11-03

Deal Participants

Target (Company)   StemCells, Inc. (Formerly CytoTherapeutics, Inc.)
Acquirer (Company) Undisclosed Investors

Deal Rationale

StemCells intends to use the net proceeds of the financing for general corporate purposes, including working capital, product development and capital expenditures, as well as for other strategic purposes.

Offer Price ($ per share) 1.25
No. Shares Issued         10000000

For full details on Stemcells Inc (STEM) click here. Stemcells Inc (STEM) has Short Term PowerRatings of 5. Details on Stemcells Inc (STEM) Short Term PowerRatings is available at This Link.

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