Vericel Corporation (NASDAQ:VCEL) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02. Unregistered Sales of Equity Securities.
Vericel Corporation (NASDAQ:VCEL) Files An 8-K Unregistered Sales of Equity Securities
On November 16, 2016, Vericel Corporation (the “Company”) received notice from Stonepine Capital, LP (“Stonepine”), an existing holder of shares of the Company’s Series A Preferred Stock (the “Preferred Stock”), electing to convert 1,250 shares of Preferred Stock into 1,250,000 shares of the Company’s common stock (the “Common Stock”) to the terms of the Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock dated as of December 21, 2015 (the “Certificate of Designation”). After the conversion on November 28, 2016, zero shares of Preferred Stock of the Company will remain outstanding.
The issuance of Common Stock in connection with the Certificate of Designation was made to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), contained in Section 3(a)(9) of the Securities Act, on the basis that the exchange constitutes an exchange with an existing holder exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.
About Vericel Corporation (NASDAQ:VCEL)
Vericel Corporation, formerly Aastrom Biosciences, Inc., is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment. Its autologous cell therapy products include Carticel (autologous cultured chondrocytes), which is an autologous chondrocyte implant for the treatment of cartilage defects in the knee, and Epicel (cultured epidermal autografts), which is a permanent skin replacement for the treatment of patients with deep-dermal or full-thickness burns. The Company is developing MACI, which is a third-generation autologous chondrocyte implant and ixmyelocel-T, which is a patient-specific multicellular therapy. Vericel Corporation (NASDAQ:VCEL) Recent Trading Information
Vericel Corporation (NASDAQ:VCEL) closed its last trading session 00.00 at 2.50 with 234,776 shares trading hands.
Vericel Corporation, formerly Aastrom Biosciences, Inc., is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment. Its autologous cell therapy products include Carticel (autologous cultured chondrocytes), which is an autologous chondrocyte implant for the treatment of cartilage defects in the knee, and Epicel (cultured epidermal autografts), which is a permanent skin replacement for the treatment of patients with deep-dermal or full-thickness burns. The Company is developing MACI, which is a third-generation autologous chondrocyte implant and ixmyelocel-T, which is a patient-specific multicellular therapy. Vericel Corporation (NASDAQ:VCEL) Recent Trading Information
Vericel Corporation (NASDAQ:VCEL) closed its last trading session 00.00 at 2.50 with 234,776 shares trading hands.
