Attached files
file | filename |
---|---|
8-K - FORM 8-K - Vericel Corp | a58102e8vk.htm |
EX-5.2 - EX-5.2 - Vericel Corp | a58102exv5w2.htm |
EX-4.1 - EX-4.1 - Vericel Corp | a58102exv4w1.htm |
EX-1.1 - EX-1.1 - Vericel Corp | a58102exv1w1.htm |
EX-5.1 - EX-5.1 - Vericel Corp | a58102exv5w1.htm |
Exhibit 99.1
Aastrom Biosciences | ||
Dominos Farms, Lobby K | ||
24 Frank Lloyd Wright Drive | ||
Ann Arbor, MI 48105 | ||
T 734 9305555 F 734 6650485 | ||
www.aastrom.com |
Aastrom Biosciences, Inc. Prices $22.5 Million
Public Offering
Public Offering
Ann Arbor, MI, December 10, 2010 (9:00am ET) Aastrom Biosciences, Inc. (NASDAQ: ASTM), a
leading developer of expanded autologous cellular therapies for the treatment of severe, chronic
cardiovascular diseases, today announced that it has priced a public offering of 10,000,000 units,
with each unit consisting of one share of the Companys common stock and one warrant to purchase
one share of common stock, at a purchase price of $2.25 per unit for an aggregate offering amount
of $22.5 million. The net proceeds to Aastrom, after underwriting discounts and commissions and
other offering expenses, from the sale of the units are expected to
be approximately $20.5 million.
The Company intends to use the net proceeds from the offering for general corporate purposes,
including research and development expenses such as expenses related to its Phase 3 CLI program,
capital expenditures, working capital and general administrative expenses.
Each warrant will be exercisable at any time on or after the date of issuance until the fifth
anniversary of the date of issuance at an exercise price of $3.22. The shares of common stock and
warrants are immediately separable and will be issued separately. The offering is expected to close
on December 15, 2010, subject to customary closing conditions.
Stifel Nicolaus Weisel is acting as sole book-running manager and Needham & Company, LLC and Roth
Capital Partners are acting as co-managers.
The offering is being made pursuant to an effective shelf registration statement that Aastrom filed
with the Securities and Exchange Commission, or the SEC, on November 12, 2010. A prospectus
supplement relating to the offering will be filed with the SEC. When available, copies of the
prospectus supplement and the prospectus relating to these securities may be obtained by contacting
Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco,
California 94104, Attention: General Counsel, (415) 364-2500. Electronic copies of the prospectus
supplement and accompanying prospectus will also be available on the website of the SEC at
http://www.sec.gov.
- more -
This press release does not constitute an offer to sell or the solicitation of an offer to buy
shares of common stock and warrants of Aastrom Biosciences, Inc., nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such state or
jurisdiction.
About Aastrom Biosciences
Aastrom Biosciences is an emerging biotechnology company developing expanded autologous cellular
therapies for use in the treatment of severe, chronic cardiovascular diseases. The companys
proprietary cell-processing technology enables the manufacture of mixed-cell therapies expanded
from a patients own bone marrow and delivered directly to damaged tissues. Aastrom has advanced
its cell therapies into late-stage clinical development, including a planned Phase 3 clinical
program for the treatment of patients with critical limb ischemia and two ongoing Phase 2 clinical
trials in patients with dilated cardiomyopathy. For more information, please visit Aastroms
website at www.aastrom.com.
Media Contact | Investor Contact | |
Stephen Zoegall
|
Kimberli OMeara | |
Berry & Company
|
Aastrom Biosciences | |
212 2538881
|
734 9305777 | |
szoegall@berrypr.com
|
ir@aastrom.com |
This document contains forward-looking statements, including without limitation, statements
concerning Aastroms planned Phase 3 clinical program, ability to successfully complete the
proposed offering and expected net proceeds from the offering, as well as other risks that are
described in further detail in the preliminary prospectus and our most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q, and from time to time in other publicly available
information regarding the Company. These statements are often, but are not always, made through the
use of words or phrases such as anticipates, intends, estimates, plans, expects, we
believe, we intend, and similar words or phrases, or future or conditional verbs such as will,
would, should, potential, could, may, or similar expressions. Actual results may differ
significantly from the expectations contained in the forward-looking statements. These forward
looking statements reflect managements current views and Aastrom does not undertake to update any
of these forward-looking statements to reflect a change in its views or events or circumstances
that occur after the date of this release except as required by law.