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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (1782)	10/16/2007 9:10:15 AM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

It seems that ASTM may open with a DG today as it is down 10% in pre-market after news.<g> bigcharts.marketwatch.com Aastrom Biosciences to Raise $13.5 Million in Registered Direct Offering Tuesday October 16, 8:30 am ET ANN ARBOR, Mich., Oct. 16, 2007 (PRIME NEWSWIRE) -- Aastrom Biosciences, Inc. (NasdaqCM:ASTM - News), a leading regenerative medicine company, announced today that it has executed definitive Purchase Agreements for the sale of approximately 11.8 million Units in a registered direct placement to a select group of unaffiliated institutional investors at a price of $1.14 per Unit for gross proceeds of approximately $13.5 million. Each Unit consists of one share of the Company's common stock and a warrant to purchase 0.5 shares of the Company's common stock at a price of $1.5875 per share, which represents a 25% premium to the Company's closing stock price on October 15, 2007. These warrants are not exercisable for six months and one day after the date of issuance, and will then be exercisable thereafter for a period of five years. If the warrants are exercised it will generate up to an additional $9.4 million in proceeds to Aastrom. This transaction is expected to be completed within the next few days, subject to customary closing conditions. BMO Capital Markets Corp. served as the exclusive placement agent in this transaction. Snip ASTM is going to erase yesterday's gains, but the stock will probably hold above $1.<g> bigcharts.marketwatch.com Bernard