Posted On: 02/23/2016 2:01:41 PM
Post# of 30034
We would have been MUCH better off if the company had issued a press release like the following this morning rather than just drop the request in an SEC filing.
Amarantus Announces Agreement for $5M Investment
SAN FRANCISCO, February 23, 2016 /PRNewswire/ --
Amarantus BioScience Holdings, Inc. (OTCQX: AMBS), a biotechnology company developing products in Regenerative Medicine, Neurology and Orphan diseases, today announced the signing of an agreement for a $5M investment from an institutional investor. Under the terms of the agreement, the investor is requiring certain customary closing conditions be met including the approval and adoption of an increase in the Company’s authorized common stock to 500,000,000. It is expected that the net proceeds from the investment will be used to repurchase part of the Series H Preferred from the Company's two largest institutional investors and for general working capital purposes.
Everyone would have focused on the investment rather than the collateral closing condition.
Amarantus Announces Agreement for $5M Investment
SAN FRANCISCO, February 23, 2016 /PRNewswire/ --
Amarantus BioScience Holdings, Inc. (OTCQX: AMBS), a biotechnology company developing products in Regenerative Medicine, Neurology and Orphan diseases, today announced the signing of an agreement for a $5M investment from an institutional investor. Under the terms of the agreement, the investor is requiring certain customary closing conditions be met including the approval and adoption of an increase in the Company’s authorized common stock to 500,000,000. It is expected that the net proceeds from the investment will be used to repurchase part of the Series H Preferred from the Company's two largest institutional investors and for general working capital purposes.
Everyone would have focused on the investment rather than the collateral closing condition.
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