Paul Hastings Represents NeoStem in Public Offering of Common Stock
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.
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