other material
confidence high
sentiment negative
materiality 0.75
BioStem raises $3M private placement at $4.08/share; $10M BioTissue clearance payment due Sept 15 unpaid
BioStem Technologies, Inc.
- Private placement of 735,296 shares at $4.08 plus Series A and Series B warrants for 735,296 shares each at $3.83; aggregate gross proceeds ~$3.0 million; closed September 30, 2026.
- Series A warrants expire five years and Series B warrants 24 months after effectiveness of the resale registration statement; full cash exercise would add roughly $5.6 million.
- H.C. Wainwright & Co. is exclusive placement agent, receiving a 7.0% cash fee plus 18,382 placement agent warrants exercisable at $6.12 per share.
- $10.0M Clearance Payment to BioTissue for Catalyze 510(k) clearance (received June 2026) was due Sept 15, 2026 and remains unpaid; company in talks on timing and terms.
- Resale registration statement due within 30 days, effectiveness targeted within 45 days (75 if SEC full review); warrants carry 4.99%/9.99% beneficial ownership blockers.