Aastrom Biosciences Inc. (ASTM) announced the closing of underwritten public offering, raising approximately $12.4 million in net proceeds from the sale of the units, including the partially exercised option of the over-allotment, after underwriting discounts and commissions and other offering expenses. The offering included the sale of 52,077,100 units in total at a public offering price of $0.26 per unit.
The company plans to use the net proceeds for general corporate purposes, including conducting operations and continuing to conduct clinical development programs.
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