NEW YORK (GenomeWeb) – StemCells today said that it intends to place common stock and warrants with two institutional investors with the aim of raising $20 million in gross proceeds.

The Newark, Calif.-based developer of stem cell therapies and research tools said that the offer includes the sale of around 11.3 million shares of common stock and short-term warrants for the purchase of up to an additional 9.6 million shares of common stock. It didn't name the two institutional investors.

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