Cellular Biomedicine Group Raises $10 Million In Private Placement

Cellular Biomedicine Group of California raised $10 million through a private placement led by Hong Kong investment banker Francis Leung. CBMG is a cell therapy company that is developing three products for the China market. For serving as lead investor, Mr. Leung has a three-year option to buy an additional 1 million shares at $8 each. If the stock trades above $12 for 20 consecutive trading days, CBMG has the right to compel the purchase. That may happen soon.

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