Deal conducted through lead agents Rodman & Renshaw, Gleacher
By Devika Patel
Knoxville, Tenn., Aug. 4 - Fibrocell Science, Inc. arranged a $22.69 million private placement of units on Aug. 3, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 41,245,822 units of one common share and one warrant for 0.35 of a share at $0.55 per unit. Each whole warrant is exercisable at $0.75 for five years. The strike price is a 20.97% premium to the Aug. 2 closing share price of $0.62.
Settlement is expected Aug. 10.
Rodman & Renshaw, LLC and Gleacher & Co. Securities, Inc. are the joint lead placement agents, and John Carris Investments, LLC is the co-placement agent.
Fibrocell is a biotechnology company based in Exton, Pa.
| Issuer: | Fibrocell Science, Inc.
|
| Issue: | Units of one common share and a warrant for 0.35 of a share
|
| Amount: | $22,685,202
|
| Units: | 41,245,822
|
| Price: | $0.55
|
| Warrants: | One warrant for 0.35 of a share per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Agent: | Rodman & Renshaw, LLC and Gleacher & Co. Securities, Inc. (leads), John Carris Investments, LLC
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 10
|
| Stock symbol: | OTCBB: FCSC
|
| Stock price: | $0.63 at close Aug. 3
|
| Market capitalization: | $22.59 million
|
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