Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

BrainStorm Cell Therapeutics (OTCQB: BCLI) $3.6M Financing

BCLI.OB entered into a private placement financing with gross proceeds of $3.6M from the sale and purchase price of $0.28 per share.

BCLI.OB also issued warrants to the investors in the financing, with exercise prices of $0.28 and $0.50 per share, with expiration dates of 1 year and 2 years. 

  • The warrants may only be exercised upon the investor’s payment in cash of the exercise price, and, if exercised in full, the warrants would bring in an additional $8.2M.

The Bottom Line: Proceeds from the placement will be used to fund the Phase I/II clinical trial in patients with amyotrophic lateral sclerosis (ALS) as well as the “usual” general corporate purposes. Barak Capital Underwriting Ltd. acted as the lead underwriter for the offering. And, the offerings keep on coming validating the viability of the stem cell technology and research universe.