Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Microbot Medical Inc. | f57777e8vk.htm |
| EX-5.1 - EX-5.1 - Microbot Medical Inc. | f57777exv5w1.htm |
| EX-1.1 - EX-1.1 - Microbot Medical Inc. | f57777exv1w1.htm |
| EX-99.1 - EX-99.1 - Microbot Medical Inc. | f57777exv99w1.htm |
Exhibit 99.2
NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT:
|
Investor Inquiries | Media | ||
| StemCells, Inc. | Russo Partners | |||
| Megan Meloni | Ian Stone (619) 528-2220 | |||
| (650) 475-3105 | David Schull (212) 845-4271 |
STEMCELLS, INC. ANNOUNCES $10 MILLION COMMON STOCK FINANCING
PALO ALTO, Calif., January 7, 2011 — StemCells, Inc. (NASDAQ: STEM) announced today that
it has entered into an agreement to sell ten million shares of its common stock to selected
institutional investors at a price of $1.00 per share, which represents a 10% discount to the
closing price per share of January 6. The offering is expected to close today, subject to
customary closing conditions, and StemCells expects to receive net proceeds, after deducting
offering expenses and fees, of approximately $9.4 million. The Company also granted the investors
an option, exercisable until February 18, 2011, to purchase an additional six million shares at
$1.00 per share.
The shares are being offered under the Company’s effective shelf registration statement
previously filed with the Securities and Exchange Commission (SEC). The securities will be offered
by means of a prospectus supplement and accompanying prospectus, forming a part of the Company’s
previously filed effective registration statement, copies of which may be obtained, when available,
at the SEC’s website at http://www.sec.gov. The net proceeds of the financing will be used for
general corporate purposes, including working capital, product development and capital
expenditures, as well as for other strategic purposes.
This press release does not and shall not constitute an offer to sell or the solicitation of
an offer to buy, nor will 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 StemCells, Inc.
StemCells, Inc. is engaged
in the research, development, and commercialization of cell-based
therapeutics and tools for use in stem cell-based research and drug discovery. In its therapeutic
product development programs, StemCells is targeting disorders of the central nervous system and
the liver. StemCells’ lead product candidate, HuCNS-SC® cells (purified human neural stem
cells), is currently in clinical development for spinal cord injury and the treatment of two fatal
neurodegenerative disorders in children, and in preclinical development for retinal disorders such
as age-related macular degeneration. StemCells also markets stem cell research products, including media and reagents, under
the SC Proven® brand, and is developing stem cell-based assay platforms for use in
pharmaceutical research, drug discovery and drug development.
USA |
Europe | |
3155 Porter Drive
|
Minerva Building 250, Babraham Research Campus | |
Palo Alto, CA 94304 USA
|
Cambridge CB22 3AT United Kingdom | |
T +1 (650) 475-3100 • F +1 (650) 475-3101
|
T +44 (0) 1223 499160 • F +44 (0) 1223 499178 |
www.stemcellsinc.com
Apart from statements of historical fact, the text of this press release constitutes
forward-looking statements within the meaning of the U.S. securities laws, and is subject to the
safe harbors created therein. These statements include, but are not limited to, statements
regarding the future business operations of StemCells, Inc. (the “Company”); the Company’s
intention to complete the offering described above, including one or more possible subsequent
closings, and the expected use of net proceeds. These forward-looking statements speak only as of
the date of this news release. The Company does not undertake to update any of these
forward-looking statements to reflect events or circumstances that occur after the date hereof.
Such statements reflect management’s current views and are based on certain assumptions that may or
may not ultimately prove valid. The Company’s actual results may vary materially from those
contemplated in such forward-looking statements due to risks and uncertainties, including that the
proposed offering is subject to market conditions and other factors and to other risks and
uncertainties to which the Company is subject, including those described under the heading “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009, and in
its subsequent reports on Form 10-Q and Form 8-K.
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