By Devika Patel
Knoxville, Tenn., May 12 - Mesoblast Ltd. said it raised A$37 million in an private placement of shares. Of the proceeds, $24 million will be invested immediately with the remainder to be raised upon receiving shareholder approval.
The company sold shares at A$1.70 per share, a 12% discount to the company's closing price on May 3.
Southern Cross Equities was the manager.
Proceeds will be used to fund the company's acquisition of Angioblast Systems Inc. and advance operations of the expanded Mesoblast Group.
Based in Melbourne, Australia, Mesoblast is an adult stem cell company.
| Issuer: | Mesoblast Ltd.
|
| Issue: | Shares
|
| Amount: | A$37 million
|
| Price: | A$1.70
|
| Warrants: | No
|
| Manager: | Southern Cross Equities
|
| Settlement date: | May 12
|
| Stock symbol: | Australia: MSB
|
| Stock price: | A$1.99 at close May 12
|
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