HemaCare Completes Sale of 400,000 Shares of Stock

HemaCare Corp., a Sherman Oaks company that sells blood-related products and services, said it has completed a private placement of $2 million of its common stock.

The 400,000 shares were sold at $5 each, 23% less than the closing price of HemaCare common stock on April 30, the company said.

Proceeds from the stock sale will be used to fund HemaCare’s ongoing testing and development of an experimental therapy for acquired immune deficiency syndrome patients.