Asterias Biotherapeutics prices underwritten public offering of common stock at $3.90 per share

Feb 6 2015

Asterias Biotherapeutics, Inc. (NYSE MKT: AST) (the "Company"), a leading biotechnology company in the emerging field of regenerative medicine, today announced today that it has priced an underwritten public offering of its common stock at a price of $3.90 per share. Concurrently, the Company entered into a private placement for the sale of common stock at the same price as the underwritten public offering.

Gross proceeds to the Company from the public offering and the private placement are expected to be approximately $5.5 million in the aggregate. Closing of the public offering is scheduled for February 10, 2015 subject to customary closing conditions. The Company intends to use the net proceeds from the public offering for continued development of product candidates through clinical trials and for working capital and general corporate purposes. MLV & Co. LLC is acting as the Sole Book-Running Manager for the offering.

SOURCE Asterias Biotherapeutics, Inc.