Nexell Agrees to Equity Financing Deal
- Share via
Nexell Therapeutics Inc., an Irvine developer of cell therapies and diagnostics for cancer and other diseases, said Wednesday that it has signed an agreement to sell up to $25 million worth of stock to an asset manager over the next 22 months.
Nexell said in a press release that shares for the equity financing arrangement with Acqua Wellington North American Equities Fund Ltd. will come from an existing stock registration.
Nexell said it may sell the shares to Acqua Wellington when it chooses and at a discount to market price at the time of the sale. The company plans to use proceeds for general corporate purposes.
Shares of Nexell gained 16 cents Tuesday to close at $3 each. In the last year, the stock reached a high of $67 in March and fell last month to a low of $2.25.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
