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Fibrocell Sciences (FCSC) proposes convertible preferred 8 M unit financing for $8 M

March 7, 2017 6:30pm

FCSC closed +$0.1148 or +17.13 to $0.78 – expect the depreciation the dilution is taken for granted and to the future.

So, where has FCSC been, done lately and going forward - ???

WALK ... A bottom fishing <fund> deal !

FCSC has entered into a securities purchase agreement with certain of its existing investors for the sale of $8 M of FCSC’s Series A Convertible Preferred Stock (Preferred Stock) and accompanying common stock warrants (Warrants).

Fibrocell has agreed to sell an aggregate of 8,000 units (Units) for a purchase price of $1,000 per Unit, with each Unit consisting of:

One share of Preferred Stock with an initial stated value of $1,000 convertible into shares of FCSC’s common stock (Common Stock) at a conversion price of $0.7757, and

Warrants to purchase 10,313,263 shares of common stock <the sweetener or not?>;

Each Warrant will have an exercise price of $0.84591 per share, will be exercisable six months after the date of issuance and will expire five years from the original issue date.

The Offering is expected to close on March 8, 2017, subject to the satisfaction of customary closing conditions.

Fibrocell intends to use the net proceeds of approximately $7.7 M from the Offering for the continued clinical and pre-clinical development of its product candidates and for other general corporate purposes

35 companies, 1 interpreter!

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