StemCells (STEM) Files $100M Replacement Shelf Registration Statement
StemCells, Inc. (NASDAQ: STEM) today announced that it has filed with the U.S. SEC a universal shelf registration statement which, when declared effective, will permit the Company to issue up to $100 million worth of registered debt and equity securities.
Under this customary type of shelf registration, once effective, the Company will have the flexibility to issue registered securities, from time to time, in one or more separate offerings or other transactions with the size, price and terms to be determined at the time of issuance.
This new shelf registration statement is intended to replace the Company's current shelf registration statement, which was filed in October 2005 and would have expired in December 2008. The expiring shelf registration statement permits the issuance of up to $100 million of registered shares of common stock, and currently, approximately $59 million worth of common stock remains available under this shelf. After the replacement shelf registration statement is declared effective by the SEC, StemCells intends to deregister any remaining shares under the expiring shelf.
StemCells, Inc., a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of cell-based therapeutics to treat diseases of the central nervous system and liver.
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