Stem Cell Therapeutics Gains $3.1 Million in Financing

Stem Cell Therapeutics Corp. closed a prospectus offering of 12,315,000 units priced at $0.25 per unit, gaining $3.1 million in aggregate gross proceeds. The offering was aimed at providing the company with the resources to acquire Trillium Therapeutics Inc. and at allowing it to acquire the license to the Tigecycline intellectual property.

As quoted in the press release:

Each Unit is comprised of one common share and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase an additional common share for $0.40 for a period of 60 months following the closing of the offering. Euro Pacific Canada Inc. acted as the agent and Bloom Burton & Co., as a selling firm for the offering.

Click here to read the full Stem Cell Therapeutics Corp. press release.