StemCells Shelf Filing Seems Almost 'Re-IPO' (STEM)

StemCells Inc. (NASDAQ: STEM) has filed a mixed securities shelf registration that will allow the company to raise up to $100 million in securities sales via any combination of stock, debt, preferred stock, and warrants. 

Interestingly enough, its market cap is a mere $99.4 million as of today’s close, so we could almost try to convince you this is a re-IPO equivalent.  Also, no underwriters were named.

Net proceeds from securities sold are earmarked for general corporate purposes such as working capital, capital expenditures, R&D, clinical trial expenditures, acquisitions of new technologies or businesses, and investments.

Shares closed down 3% at $1.23 in regular trading, and shares are down 10% at $1.10 in initial after-hours trading today. 

Jon C. Ogg
June 24, 2008