Business
Amarantus Announces $3M Capital Infusion
Amarantus Announces $3M Capital Infusion.
About this update from Amarantus Bioscience Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAmarantus Announces $3M Capital Infusion\n\n\n\n\n\nAmarantus Announces $3M Capital Infusion\nPR Newswire\nSAN FRANCISCO, February 19, 2016\n\n\n\nSAN FRANCISCO, February 19, 2016 /PRNewswire/ --\n\nAmarantus BioScience Holdings, Inc. (OTCQX: AMBS), a biotechnology company developing products in Regenerative Medicine, Neurology and Orphan diseases, today announced the closing of a $3M investment from an institutional investor. Under the terms of the agreement, the investor will be issued $3.3M worth of Series H Convertible Preferred Stock (including 10% original issue discount) from the Company and five year warrants exercisable for 13,200,000 shares of common stock at $0.40 per share. It is expected that the net proceeds will be used to repurchase part of the Series H Preferred from the Company's two largest institutional investors, for preparations towards the initiation of the Phase 2 clinical study of Engineered Skin Substitute (ESS) for the treatment of severe burns in collaboration with the US Army, and for general working capital purposes.  The largest holders of the Series H Convertible Preferred Stock agreed to certain trading restrictions as part of the transaction.\n\nChardan Capital Markets, LLC acted as sole placement agent for the transaction.\n\n\"This much needed capital infusion provides Amarantus with sufficient runway to judiciously accelerate the execution phase of the Company's business plan,\" said Gerald E. Commissiong, President & CEO of Amarantus. \"Amarantus' groundbreaking ESS program represents a revolutionary technology allowing for the growth of full-thickness human skin. We believe this program will dramatically change the practice of medicine in severe burn care, and is grossly undervalued inside Amarantus. We are evaluating options to unlock the true value of this revolutionary program to the benefit of the Company and its diverse group of shareholders, and will be communicating with shareholders in this regard in the near future.\"\n\nThe securities described above are being offered pursuant to a shelf registration statement (File No. 333-203845), which was declared effective by the United States Securities and Exchange Commission (\"SEC\") on May 22, 2015.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities...