Fibrocell Science completes $22.78 million private placement of units

Deal conducted through lead agents Rodman & Renshaw, Gleacher & Co.

By Devika Patel

Knoxville, Tenn., Aug. 22 - Fibrocell Science, Inc. said it settled a $22.78 million private placement of units. The deal priced for $22.69 million on Aug. 3.

The company sold 41,409,458 units of one common share and one warrant for 0.35 shares 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.

Rodman & Renshaw, LLC and Gleacher & Co. Securities, Inc. were the joint lead placement agents and John Carris Investments, LLC was 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 shares
Amount:	$22,775,202
Units:	41,409,458
Price:	$0.55
Warrants:	One warrant for 0.35 shares 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. 22
Stock symbol:	OTCBB: FCSC
Stock price:	$0.63 at close Aug. 3
Market capitalization:	$31.23 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.