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Advanced Cell Technology

Stem cell technology firm raises $17.75M in private placements

Published in Healthcare Mergers, Acquisitions and Ventures Week, October 15th, 2005

Advanced Cell Technology, Inc., (ACTC) announced that it has closed a private placement of convertible notes and warrants to raise proceeds of $17.75 million.

The convertible notes are convertible into 9,672,925 million shares of common stock at a price of $2.30 per share.

The investors also received warrants to purchase 4,836,462 million additional shares of common stock at a price of $2.53 per share exercisable for 5 years. T.R. Winston & Company acted as placement agent for the securities sold in this transaction.

The proceeds of the financing are expected to be used by the company for general corporate purposes and to...

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