Company sells 3,333,333 common shares at $0.15 per share in offering
By Devika Patel
Knoxville, Tenn., June 4 - International Stem Cell Corp. raised $500,000 in a private placement of stock with Andrey Semechkin and Ruslan Semechkin on May 29, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 3,333,333 common shares at $0.15 apiece. The price per share is identical to the June 3 closing share price.
Proceeds will be used for working capital purposes.
International Stem Cell is a biotechnology company based in Carlsbad, Calif.
| Issuer: | International Stem Cell Corp.
|
| Issue: | Common shares
|
| Amount: | $500,000
|
| Shares: | 3,333,333
|
| Price: | $0.15
|
| Warrants: | No
|
| Investors: | Andrey Semechkin and Ruslan Semechkin
|
| Announcement date: | June 4
|
| Settlement date: | May 29
|
| Stock symbol: | OTCBB: ISCO
|
| Stock price: | $0.15 at close June 3
|
| Market capitalization: | $23.87 million
|
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