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BioStem Technologies Secures Up to $40 Million in a Committed Equity Facility

BSEM
  • BioStem Technologies, Inc. (NASDAQ: BSEM) has entered into a $40 million Committed Equity Facility with Roth Principal Investments, LLC.
  • The facility allows BioStem to issue up to $40 million of common stock to Roth at its sole discretion via private placement.
  • Shares are subject to conditions including the filing and effectiveness of a registration statement with the SEC for resale.
  • Nasdaq rules limit issuance to 19.99% of outstanding shares unless shareholder approval is obtained or the price meets minimum thresholds.
  • Net proceeds will be used for working capital and general corporate purposes.
  • BioStem is under no obligation to utilize the full $40 million available under the facility.
  • The company intends to file a registration statement to register the resale of shares by Roth.
  • BioStem is a regenerative medicine company focusing on perinatal tissue allografts using proprietary processing technologies.
  • The company's quality systems are accredited by the American Association of Tissue Banks in compliance with cGTP and cGMP standards.