NeoStem establishes $30M equity facility

|By:, SA News Editor

Cellular therapy firm NeoStem (NBS) secures a new $30M equity facility with Aspire Capital Fund LLC replacing the prior agreement where NBS received $20M in equity funding. Under the terms of the agreement, the company has the right to sell up to $30M in shares to Aspire over a two-year period, subject to certain terms and conditions.

NBS controls the timing and amount of stock sales to Aspire Capital. Aspire cannot require NBS to sell it stock but it must purchase shares as the company directs. There are no limitations on the use of the proceeds and there are no warrants involved.