Business
Amarantus Announces Capital Infusion
Amarantus Announces Capital Infusion.
About this update from Amarantus Bioscience Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAmarantus Announces Capital Infusion\n\n\n\n\n\nAmarantus Announces Capital Infusion\nPR Newswire\nSAN FRANCISCO, April 21, 2016\n\n\n\nSAN FRANCISCO, April 21, 2016 /PRNewswire/ --\n\nAmarantus BioScience Holdings, Inc. (OTCQX:AMBS), a biotechnology company developing products in Regenerative Medicine, Neurology and Orphan diseases, has entered into a Securities Purchase Agreement (the \"SPA\") with three existing institutional investors for the sale of an aggregate principal amount $1,500,000 (including 10% OID) 10% Senior Secured Convertible Promissory Notes due April 17, 2017 (the \"Notes\") and a warrant to purchase 1,350,000 shares of common stock (the \"Warrant\") in a private placement offering. Pursuant to the SPA, the investors agreed to purchase additional aggregate principal amount of $1,555,556 (including 10% OID) of Notes and Warrants to purchase 1,400,000 shares of common stock upon effectiveness of a registration statement (the \"Registration Statement\") registering the common stock underlying the Notes and Warrants or earlier as mutually agreed between the investors and the Company and an additional $1,388,889 (including 10% OID) of Notes and Warrants to purchase 1,250,000 shares of common stock on the 61st day after effectiveness of the Registration Statement or earlier as mutually agreed between the investors and the Company.  The first funding tranche of $1.35M has been delivered to the Company, with the primary use of proceeds to finance the Company's development of the ESS program. The Company is required to file the Registration Statement by April 29th, 2016.\n\nChardan Capital Markets, LLC acted as sole placement agent for the transaction.\n\n\"We are in preparation mode for the initiation of the Phase 2 clinical study for ESS in collaboration with the US Army,\" said Gerald E. Commissiong, President & CEO of Amarantus. \"This capital investment positions Amarantus to be operationally ready to open the clinical study shortly.\"\n\nThe Notes, Warrants and shares issuable upon conversion of the Notes and exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or with any securities regulatory authority of any State or other jurisdiction, and may not be offered or sold in the United States or to U.S. persons absent r...