BioStem Technologies, Inc. [BSEM] - equity issuance
BioStem Technologies, Inc. issued equity at a purchase price of $4.08 per share, raising approximately $3.0 million in gross proceeds, and included Series A and B warrants with exercise prices of $3.83 per share.
Why this matters
BioStem Technologies, Inc., a company operating in the biological products sector, has announced an equity issuance to raise approximately $3.0 million in gross proceeds. The company issued 735,296 shares of common stock at a purchase price of $4.08 per share, along with Series A and B warrants, each allowing the purchase of up to 735,296 shares at an exercise price of $3.83 per share. The Series A warrants will expire five years after the effective date of the Resale Registration Statement, while the Series B warrants will expire twenty-four months after the same date. The proceeds from this private placement, facilitated by H.C. Wainwright Co. as the exclusive placement agent, are intended for working capital and general corporate purposes.