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International Stem Cell Corporation Signs Financing Agreement with Socius CG II, Ltd.


5/5/2010 10:06:51 AM

OCEANSIDE, Calif.--(BUSINESS WIRE)--International Stem Cell Corporation (OTCBB:ISCO), www.intlstemcell.com, today announced it has entered into a definitive agreement dated May 4, 2010 (‘the Agreement”) with Socius CG II, Ltd. (“Socius”), pursuant to which Socius has committed to purchase a single tranche of up to $10 million in non-convertible Series F Preferred Stock (the "Preferred Stock") from ISCO. The Company issued a warrant to purchase $13,500,000 worth of the Company’s Common Stock, the exercise price of the warrant being determined by the closing bid price for the Company’s Common Stock on the trading day immediately preceding the date the Company initiates the sale of the Series F Preferred.

Read at BioSpace.com

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