International Stem Cell Corporation (ISCO) Enters Definitive Agreement to Raise $6.3 Million to Fund Clinical Trial
Before the opening bell, International Stem Cell Corporation (OTCQB: ISCO) announced entry into a definitive agreement with two institutional healthcare investors and its management team through which the company will raise $6.3 million to fund its upcoming phase I study of human parthenogenetic neural stem cells (ISC-hpNSC). The agreement includes the initial purchase of $6.3 million of ISCO’s convertible preferred stock, in addition to common stock purchase warrants for an additional $25.7 million of the company’s common stock in the future. Through these efforts, the company is set to secure gross proceeds of $2.5 million in cash from the initial…