NEWARK, Calif., Dec. 22, 2011 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM) today announced that it has closed its previously announced underwritten offering of an aggregate of 8,000,000 units and 8,000,000 Series B Warrants, each to purchase one unit, at a public offering price of $1.25 per unit. The Company received total proceeds, net of underwriting discounts, of approximately $9.5 million. The proceeds will be used for general corporate purposes, including working capital and operational purposes, including product development.
