International Stem Cell to price public offering of 17.5 million units

Funds earmarked for research and development, general working capital

By Devika Patel

Knoxville, Tenn., July 2 - International Stem Cell Corp. plans to sell 17.5 million units in a public sale, according to a prospectus filed Tuesday with the Securities and Exchange Commission.

The units each consist of one common share and two warrants. The series A warrants are exercisable for five years, and the series B warrants will expire in 65 trading days.

Roth Capital Partners is the agent and will conduct the deal on a commercially reasonable, best-efforts basis.

Proceeds will be used for research and development activities, including pre-clinical studies for the Parkinson's disease and endoderm programs, as well as for general working capital needs.

International Stem Cell is a biotechnology company based in Carlsbad, Calif.

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