Aastrom Biosciences, Inc. (ASTM) announced that it plans to offer to sell units consisting of shares of its common stock, Class A warrants and Class B warrants, in an underwritten public offering.
In addition, the company will grant the underwriter an over-allotment option to purchase additional shares of common stock and/or warrants in an amount up to 15% of the number of shares of common stock and warrants underlying the units sold pursuant to the offering. The additional shares of common stock and/or warrants would be exercisable at any time up to 30 days from the pricing of the offering.
Aastrom plans to use the net proceeds of the offering for general corporate purposes. Oppenheimer & Co. Inc. is acting as the sole underwriter for the offering.
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