MARLBOROUGH, Mass.--(BUSINESS WIRE)--Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that it has entered into a $25 million non-convertible stock purchase agreement with Socius CG II, Ltd. , a subsidiary of Socius Capital Group (“Socius”). Socius, based in New York and Los Angeles, has an impressive record of making investments in emerging life sciences companies. Under the agreement, ACT may sell up to 2,500 shares of non-convertible Series C Preferred Stock to Socius over a two-year period. On closing, Socius purchased 400 shares of Series C Preferred for an aggregate purchase price of $4 million. Proceeds will be used for clinical activities, including the Phase I/II trial for Stargardt’s Disease, a potential clinical trial for Dry Age-Related Macular Degeneration and general corporate purposes.
