NeoStem, Inc. (NBS) said Friday that it has completed an underwritten public offering of 23 million shares of its common stock, including the fully exercised over-allotment option by the underwriters covering 3 million shares, offered at a price to the public of $0.50 per share.
The gross proceeds to the company were $11.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by the company.
Aegis Capital Corp. acted as sole book-running manager of the offering.
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