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StemCells Inc. (NASDAQ: STEM) has filed a mixed securities shelf registration that will allow the company to raise up to $100 million in securities sales via any combination of stock, debt, preferred stock, and warrants.
Interestingly enough, its market cap is a mere $99.4 million as of today’s close, so we could almost try to convince you this is a re-IPO equivalent. Also, no underwriters were named.
Net proceeds from securities sold are earmarked for general corporate purposes such as working capital, capital expenditures, R&D, clinical trial expenditures, acquisitions of new technologies or businesses, and investments.
Shares closed down 3% at $1.23 in regular trading, and shares are down 10% at $1.10 in initial after-hours trading today.
Jon C. Ogg
June 24, 2008
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