NeoStem Gets $5 Million from R

NeoStem, Inc., an international biopharmaceutical company with operations in the U.S. and China, said that the Company has entered into definitive agreements with certain accredited investors to sell in a registered direct offering 2,325,582 units with an aggregate gross offering price of $5 million.

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In a release, the Company noted that each unit was priced at $2.15 and consists of one share of common stock and a warrant which will allow the Investor, for a period of two years, to purchase .25 share of common stock at a per share price of $2.75. The warrants may be called by the Company in the event that the common stock trades over $4.50 for 10 consecutive trading days. If fully exercised the warrants would result in additional gross proceeds to the Company of $1,598,837.

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On the conclusion of the direct offering, Dr. Robin Smith, Chairman and CEO noted, "We were pleased by the participation of new institutional investors. We remain committed to expanding our revenue opportunities in China, both through our pharmaceutical business and recently launched adult stem cell initiatives." The Company intends to use the net proceeds from this offering for the construction of lab facilities in China, stem cell-related research and development projects, development and licensing of new pharmaceutical products in China, and for working capital and general corporate purposes and the Company's future growth through potential acquisitions.

Rodman & Renshaw, a subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the Company's exclusive placement agent in connection with the offering.

The Company said that it expects to use the net proceeds for general working Replica Longines Watches capital purposes. The offering is expected to close on or around June 30, subject to customary closing conditions.

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