Aastrom Biosciences Inc. (ASTM) announced the pricing of underwritten public offering of 46.154 million units at a public offering price of $0.26 per unit. Each unit consists of one share of common stock, a Class A Warrant to purchase 0.75 of a share of common stock and a Class B Warrant to purchase 0.50 of a share of common stock.
Each whole Class A Warrant entitles the holder to acquire one common share of the company upon payment of $0.3718 per share, exercisable for a five year period commencing on a date six months after the closing date of the offering.
Each whole Class B Warrant entitles the holder to acquire one common share of the Company upon payment of $0.26 per share, exercisable for a six month period commencing on the closing date of the offering.
The company has granted the underwriter a 30-day over-allotment option to purchase up to 6,923,100 shares of common stock, Class A Warrants to purchase 5,192,325 shares of common stock and/or Class B Warrants to purchase 3,461,550 shares of common stock.
The offering is expected to close on January 21.
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