Company negotiates 30-month purchase agreement with Lincoln Park
By Devika Patel
Knoxville, Tenn., Jan. 27 - Aastrom Biosciences Inc. arranged a $15 million stock purchase agreement with Lincoln Park Capital Fund, LLC on Jan. 21, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell the common shares to Lincoln Park over 30 months in tranches ranging from 50,000 shares to 100,000 shares, depending upon the closing sale price of the stock.
Lincoln Park also received 96,126 common shares as a commitment fee.
Aastrom is a biotechnology company based in Ann Arbor, Mich.
| Issuer: | Aastrom Biosciences Inc.
|
| Issue: | Stock purchase agreement
|
| Amount: | $15 million
|
| Tenor: | 30 months
|
| Warrants: | No
|
| Investor: | Lincoln Park Capital Fund, LLC
|
| Fees: | 96,126 common shares
|
| Settlement date: | Jan. 21
|
| Stock symbol: | Nasdaq: ASTM
|
| Stock price: | $3.77 at close Jan. 17
|
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