By Sheri Kasprzak
New York, May 22 - Pluristem Life Systems, Inc. concluded a private placement for $14.875 million. The offering was oversubscribed from its planned $13.5 million.
The most recent closing is in addition to the company's $8 million offering that closed in February. In the most recent closing, the company raised $6.875 million, selling 550 million shares at $0.0125 each to a group of investors that included Technion-Israel Institute of Technology.
In the full offering, the company issued 1.19 billion shares.
The investors received warrants for an equal number of shares, exercisable at $0.025 each.
Proceeds will be used to complete the development of the company's first product, PLX-I, and to explore the use of the company's placental expanded mesenchymal stem cells for other clinical indications.
New York-based Pluristem develops stem cell therapies to treat malignant, degenerative and autoimmune disorders.
| Issuer: | Pluristem Life Systems, Inc.
|
| Issue: | Stock
|
| Amount: | $14.875 million
|
| Shares: | 1.19 billion
|
| Price: | $0.0125
|
| Warrants: | For 1.08 billion shares
|
| Warrant strike price: | $0.025
|
| Investors: | Technion-Israel Institute of Technology, others
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| Settlement date: | May 21
|
| Stock symbol: | OTCBB: PLRS
|
| Stock price: | $0.121 at close May 21
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