Attached files
| file | filename |
|---|---|
| 8-K - CALADRIUS BIOSCIENCES, INC. | v189236_8k.htm |
| EX-5.1 - CALADRIUS BIOSCIENCES, INC. | v189236_ex5-1.htm |
| EX-4.2 - CALADRIUS BIOSCIENCES, INC. | v189236_ex4-2.htm |
| EX-1.1 - CALADRIUS BIOSCIENCES, INC. | v189236_ex1-1.htm |
| EX-4.1 - CALADRIUS BIOSCIENCES, INC. | v189236_ex4-1.htm |
| EX-10.1 - CALADRIUS BIOSCIENCES, INC. | v189236_ex10-1.htm |
NeoStem
Raises $5 Million in Registered Direct Offering
Press Release Source: NeoStem,
Inc. On Friday June 25, 2010, 3:02 pm EDT
NEW YORK,
June 25 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem"
or the "Company"), an international biopharmaceutical company with operations in
the U.S. and China, announced today that the Company has entered into definitive
agreements with certain accredited investors (the "Investors") to sell in a
registered direct offering 2,325,582 units with an aggregate gross offering
price of $5 million. Each unit was priced at $2.15 and consists of one share of
common stock and a warrant which will allow the Investor, for a period of two
years, to purchase .25 share of common stock at a per share price of $2.75. The
warrants may be called by the Company in the event that the common stock trades
over $4.50 for 10 consecutive trading days. If fully exercised the warrants
would result in additional gross proceeds to the Company of
$1,598,837.
On the
conclusion of the direct offering, Dr. Robin Smith, Chairman and CEO noted, "We
were pleased by the participation of new institutional investors. We remain
committed to expanding our revenue opportunities in China, both through our
pharmaceutical business and recently launched adult stem cell initiatives." The
Company intends to use the net proceeds from this offering for the construction
of lab facilities in China, stem cell-related research and development projects,
development and licensing of new pharmaceutical products in China, and for
working capital and general corporate purposes and the Company's future growth
through potential acquisitions.
Rodman
& Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital
Group, Inc. (Nasdaq:RODM - News), acted as the
Company's exclusive placement agent in connection with the
offering.
The
Company expects to use the net proceeds for general working capital purposes.
The offering is expected to close on or around June 30, 2010, subject to
customary closing conditions.
The
shares and warrants in this offering are being issued under a shelf registration
statement declared effective by the Securities and Exchange Commission (the
"SEC") on May 11, 2010. A prospectus supplement related to the public offering
will be filed with the SEC. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained from Rodman
& Renshaw, LLC, 1251 Avenue of the Americas 20th Floor, New York, NY 10020
or by calling (212) 356-0549. An electronic copy of the prospectus is also
available on the SEC's web-site at http://www.sec.gov
.
For more
detailed information on this financing, please refer to the Company's Form 8-K
and related exhibits to be filed with the SEC on or around June 25,
2010.
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.
About
NeoStem, Inc.
NeoStem,
Inc. is engaged in the development of stem cell-based therapies, pursuit of
anti-aging initiatives and building of a network of adult stem cell collection
centers in the U.S. and China that enable people to donate and store their own
(autologous) stem cells for potential personal use in times of future medical
need. The Company is also the licensee of various stem cell technologies,
including a worldwide exclusive license to VSEL(TM) Technology, which uses very
small embryonic-like stem cells shown to have several physical characteristics
that are generally found in embryonic stem cells, and is pursuing the licensing
of other technologies for therapeutic use. NeoStem's majority-controlled Chinese
pharmaceutical operation, Suzhou Erye, manufactures and distributes generic
antibiotics in China. For more information, please visit: http://www.neostem.com
.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
reflect management's current expectations, as of the date of this press release,
and involve certain risks and uncertainties. Forward looking statements include
statements herein with respect to the success of lab construction, new stem cell
projects and new pharmaceutical development and licensing, about which no
assurances can be given. The Company's actual results could differ materially
from those anticipated in these forward- looking statements as a result of
various factors. Factors that could cause future results to materially differ
from the recent results or those projected in forward-looking statements include
the "Risk Factors" described in the Company's Annual Report on Form 10-K filed
with the Securities and Exchange Commission on March 31, 2010 as well as other
periodic filings made with the Securities and Exchange Commission. The Company's
further development is highly dependent on future medical and research
developments and market acceptance, which is outside its control.
For more
information, please contact:
NeoStem,
Inc.
Robin
Smith, CEO
Phone:
+1-212-584-4174
Email:
rsmith@neostem.com
Web: http://www.neostem.com
CCG
Investor Relations, Inc.
Crocker
Coulson, President
Phone:
+1-646-213-1915
Email:
crocker.coulson@ccgir.com