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Asterias will conduct $20 million at-the-market sales of common shares
Deal conducted by MLV to finance working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., April 10 – Asterias Biotherapeutics, Inc. negotiated a $20 million at-the-market issuance sales agreement with MLV & Co. LLC on April 10, according to a prospectus supplement and 8-K filed Friday with the Securities and Exchange Commission.
MLV will be paid a 3% commission.
Proceeds will be used for general corporate purposes, including clinical trials, research and development, capital expenditures and working capital.
The Menlo Park, Calif., company is a subsidiary of BioTime, Inc., an Alameda, Calif., biotechnology company.
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