Deal includes 250,000 warrants exercisable $0.75 at until May 15, 2019
By Devika Patel
Knoxville, Tenn., June 3 – Cell Source, Inc. completed a $250,000 private placement of a promissory note with one investor on May 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 12% note is due Sept. 15, 2015 and is not convertible.
The investor also received a warrant for 250,000 common shares. The warrants are exercisable at $0.75 per share until May 15, 2019. The strike price is a 34.78% discount to the May 14 closing share price of $1.40.
The Las Vegas company develops and commercializes preclinical cell therapy treatments that have shown promising results in treating animals suffering from blood cancers such as leukemia and lymphoma.
| Issuer: | Cell Source, Inc.
|
| Issue: | Promissory note
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| Amount: | $250,000
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| Maturity: | Sept. 15, 2015
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| Coupon: | 12%
|
| Warrants: | For 250,000 shares
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| Warrant expiration: | May 15, 2019
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| Warrant strike price: | $0.75
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| Settlement date: | May 15
|
| Stock symbol: | OTCBB: CLCS
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| Stock price: | $1.40 at close May 14
|
| Market capitalization: | $28.53 million
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