NEWARK, Calif., Oct. 8, 2013 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM) today announced that it has closed its previously announced underwritten public offering of common stock and warrants. The Company sold a total of 12,845,500 units, which includes the underwriter's full over-allotment option. The Company sold the units at a public offering price of $1.45 per unit and received total proceeds, net of offering expenses, underwriting discounts and commissions, of approximately $17.3 million. Each unit sold consists of one share of common stock, par value $.01 per share, and a warrant to purchase one half share of common stock. The warrants have an exercise price of $1.80 per share, are exercisable immediately, and will expire five years from the date of issuance.
StemCells, Inc. Announces Closing Of $18.6 Million Public Offering
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