New York— Paul Hastings LLP, a leading global law firm, announced today that the firm represented NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company", to be renamed Caladrius Biosciences, Inc.), in connection with the closing of a previously announced underwritten public offering of 12,500,000 shares of common stock at a public offering price of $2.00 per share.
In addition, the underwriter exercised the over-allotment option to purchase an additional 1,875,000 additional shares of its common stock bringing the gross proceeds to NeoStem from this offering to $28,750,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital, including research and development of cell therapeutic product candidates, especially its lead immuno-oncology program, NBS20, expansion of business units, strategic transactions and other general corporate purposes.
The Paul Hastings team was led by New York Corporate partners Neil Torpey and Michael Zuppone, and of counsel Keith Pisani, in addition to associates Melissa Fishkin and Steven Jean.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.