NeoStem Inc. (Amex: NBS), operates a network of commercial autologous adult stem cell banks in the metropolitan areas of the
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NeoStem Inc.(Amex: NBS), an International Biopharmaceutical Company with operations in the U.S. and China, reported today the closing of its previously announced 5,000,000 share public offering and the implement of the over-allowance option in full by the underwriters for an additional 750,000 shares of the Company's stock, bringing the total shares to 5,750,000. The offering price was listed at $1.35 per share. Including the over-allowance, the Company expects to obtain net proceeds from the offering, after underwriting discounts, commissions and expenses, of approximately $6.9 million.
"We are pleased to be bringing in the Chinese New Year with this milestone and look forward to the near-term relocation of our pharmaceutical operations in China and launch of our stem cell therapies in China while we continue with our other stem cell initiatives in the U.S.," said Robin Smith, M.D., Chairman and CEO of NeoStem. "We are appreciative of the continued support of our existing investors as well as the additional support of new investors."
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