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Aastrom (ASTM) Files S-1 For A Full Marketed Follow-on With No Warrants

With JPM on the cover - so far

The "proposed" maximum aggregate offering is 25 M shares

Prospectus can be accessed: http://investors.aastrom.com/secfiling.cfm?filingID=1104659-13-33806&CIK=887359. ASTM had $13.68 M as of 12/31/12.

The Bottom Line: They need the cash, the market is what it is ... hopefully the "force will be with them". Many will "balk" at the pricing and the dilution - but only the public markets could offer a redemption if milestones are defined and met. More to follow as "it" events unfold.

ASTM closed at $0.69 on Friday, 5/26/13 and is DOWN -$0.04 or -5.62% to $0.65 in the pre-open market. Expect a 10 - 15% drop in the pricing pre-event.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.