By Devika Patel
Knoxville, Tenn., Oct. 29 - Aastrom Biosciences Inc. negotiated a $15 million 25-month committed equity financing facility with Fusion Capital Fund II, LLC, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company may sell shares to Fusion Capital from time to time in tranches of between $60,000 and $2 million, based on prevailing market prices, with no specific discount.
Fusion may not purchase shares when the per-share price is below $0.10.
Aastrom is a biotechnology company based in Ann Arbor, Mich.
| Issuer: | Aastrom Biosciences Inc.
|
| Issue: | Committed equity financing facility
|
| Amount: | $15 million
|
| Tenor: | 25 months
|
| Warrants: | No
|
| Investor: | Fusion Capital Fund II, LLC
|
| Settlement date: | Oct. 29
|
| Stock symbol: | Nasdaq: ASTM
|
| Stock price: | $0.35 at close Oct. 29
|
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