Deal with Lincoln Park sells stock based on prevailing market prices
By Devika Patel
Knoxville, Tenn., Dec. 11 - International Stem Cell Corp. said it arranged a stock purchase agreement with Lincoln Park Capital Fund, LLC for $10.25 million. It has already raised $250,000.
The company will sell common shares to Lincoln Park over three years at a price calculated through a formula based upon the prevailing market prices.
Proceeds will be used for research and development activities, general corporate purposes and working capital requirements.
International Stem Cell is a biotechnology company based in Carlsbad, Calif.
| Issuer: | International Stem Cell Corp.
|
| Issue: | Stock purchase agreement
|
| Amount: | $10.25 million
|
| Tenor: | Three years
|
| Warrants: | No
|
| Investor: | Lincoln Park Capital Fund, LLC
|
| Pricing date: | Dec. 11
|
| Stock symbol: | OTCBB: ISCO
|
| Stock price: | $0.20 at close Dec. 10
|
| Market capitalization: | $30.19 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.
