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Well if ACTC issues 300000000 more issues to Lincoln park in exchange for appox $30,000,000 (@.10), assuming a r/s split of 1/50, this equates into 6,000,000shs. I believe this is worth it knowing they will cash for continued operations for further research.
Advanced Cell Technology Secures $30 Million Equity Facility from Lincoln Park Capital
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Business Wire
Advanced Cell Technology, Inc.
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MARLBOROUGH, Mass.--(BUSINESS WIRE)--
Advanced Cell Technology, Inc. (“ACT”)(ACTC), a leader in the field of regenerative medicine, today announced that it has entered into a $30 million common stock purchase agreement with Lincoln Park Capital Fund, LLC (“LPC”).
“LPC has been an important partner over the years and we are pleased to continue our relationship with them. This facility gives us an additional option in funding the progress of our business, without creating complications in our capital structure. Securing this new line of funding enables us to make prudent decisions and will help us optimize future financing opportunities as we develop our plan to up-list to a national exchange and pursue long-term, fundamental-based, institutional capital,” said Ted Myles, ACT’s Interim President, Chief Operating Officer and Chief Financial Officer.
Under the terms of the purchase agreement, ACT has agreed to file a registration statement with the U.S. Securities & Exchange Commission (“SEC”) covering the shares that may be issued to LPC under the agreement. After the SEC has declared effective the registration statement related to the transaction, the Company has the right over a 36-month period to sell up to $30,000,000 worth of shares of the Company’s Common Stock to LPC, subject to certain limitations and conditions set forth in the agreement. In consideration for entering into the agreement, the Company issued LPC shares of the Company’s Common Stock as a commitment fee.
Dr. Paul K. Wotton, incoming President and CEO of ACT, commented, “This commitment from LPC is a good instrument to have in place as we prepare to initiate our Phase 2 trials for age-related macular degeneration and Stargardt’s macular degeneration. Having this line in place will allow us to bridge in the short-term, and will also play an important strategic role in the longer-term, as we evaluate and prioritize the many exciting programs in our pre-clinical pipeline. I look forward to joining at this pivotal period for ACT and we are pleased to have partners like LPC, to enable us to focus on the rigorous execution of all elements of our business plan.”
The elements of the new arrangement with LPC include:
• ACT controls the timing and amount of any sales of common stock to LPC at a known price;
• LPC cannot require ACT to make sales, but is obligated to make purchases as ACT directs in accordance with the terms of the agreement;
• There is no upper limit on the price per share that LPC could be obligated to pay for shares of common stock under the agreement; and
• There are no limitations on use of proceeds, financial covenants, restrictions on future financings, rights of first refusal, participation rights, penalties or liquidated damages.
More information is available in ACT's Current Report on Form 8-K, filed today with the SEC.
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc., (ACT) is a Marlborough, Mass.-based biotechnology company focused on the development and commercialization of human embryonic stem cell (hESC) and adult stem cell technology. The company’s most advanced products are in clinical trials for the treatment of dry age-related macular degeneration, Stargardt’s macular degeneration and myopic macular degeneration. ACT’s preclinical programs involve cell therapies for the treatment of other ocular disorders and for diseases outside the field of ophthalmology, including autoimmune, inflammatory and wound healing-related disorders. The company’s intellectual property portfolio includes pluripotent stem cell platforms – hESC and induced pluripotent stem cell (iPSC) – and other cell therapy research programs. For more information, visit www.advancedcell.com.
I did not say you said it although it appears that way. What I meant was that you were agreeing with post #68548, whereas he was responding to me for his post of 68545. Sorry if it appeared that way.
Agree 100%. I have been trying to indicate that for days. You have worded it a lot better.
I disagree, the financial condition of the company is very important for investors. Also, it doesn't appear that KERX at any time had more than 100 million shares outstanding and big debt. They also had a very good balance sheet ( as far as I can see). I expect that the new CEO will improve the Balance sheet of ACTC, that's why I feel optimistic for the future. Yes, it can move up after phase1 but only they can show they will continue as a company.
Anything is possible. However I am sure KERX was in a better financial situation than ACTC at this stage. Don't get wrong , I like ACTC chances for the future and am still buying shares.Been buying this for years.
True. This can also turn into a positive with good news a short squeeze could develop and create a price rise. Just a note my 6months for phase 11 I meant with results. The new CEO comes aboard on 7/21/2014, so if the they start on 8/1/2014 (which would be quick) first they have to sign up people, then start testing and await for results (for 2-3 patients), then announce the results. Therefore I see 5-6 months from today.I didn't mean they would start in six months.
Exactly, my point. Wait for the results. By the I am one of the patient ones. I have been buying this for 7 years and will continue to hold.
Just a question-- then why hasn't ACTC already have a very big upswing yet? We know a successful new CEO is coming aboard, lawsuit was settled, phase 11 will start soon ( with anticipated good results)? I know it went from 5 to 7.
You are missing my point. I agree we are heading in the right direction and maybe more accumulation should take place--- but success is not guaranteed. Therefore at this point the perditions of large upward movements are not appropriate. Let's see what this CEO has in mind first.
You are missing my point. I agree we are heading in the right direction and maybe more accumulation should take place--- but success is not guaranteed. Therefore at this point the perditions
Yes, I agree, however Phase 11 still has not started. This will take 6 months to a year. Believe me I would love to see a big price appreciation. All I am pointing out is that there should not be any price predictions on unknowns, only on the facts. I am confident that the stock will appreciate or I would not have invested in the company. "If" is only to letters, but it is one of the biggest words. Sometimes people say things what they want to see, I am only basing my thoughts on the facts, not dreams.
Not with the new CEO
Stock will appreciate, but not to $35 without earnings or sales. Phase2 has not stared yet. Then they need phase3. After the trails, a FDA approval will be necessary to commercialize the technique. This will take 4 years. I have a position in ACTC and I expect a substantial appreciation for this stock but in the future. Everything has to be put in context. Now, the price reflects the potential, because technically the company is worthless. If it was so sure the stock will rise to high levels, the big money people would be pouring money into this stock and financing would come easily. Presently, the company is highly risky.
Right, not impossible, however this is years away.
Yes, but Facebook is earning .77cents a share.
$35? This would result in a market cap of appox. $115 billion dollars. Do you really believe this? IBM IS $184 BILLION.
My understanding is that the company carries the J/V as an invested asset, and adjusts the value up or down recording an unrealized gain or loss When the joint venture ends , the asset is removed and a realized gain and loss is recorded and the unrealized gain and loss is reversed. Therefore, the surplus and the gain or loss (unrealized or unrealized)are reflected each year). What are the future profits are you referring to?
It may, depends what the agreements are. However I wasn't referring to a J/V. Personally, I do not agree with a company going into a joint venture.
How is a J/v dilutive? they may share expensives, and los money but where are shares issued?
You do not think a grant from NIH or other agency is possible?
I am sure people in the field and bio tech investors knew about this. Everyone is aware that they have a outstanding technique. However they have to strengthen their balance sheet, and get non dilutive funding. Hopefully the new CEO and President will be able to accomplish this.
Yes, but this was published March 2014.
Monday? This is not new news, see post 57325 posted 12/04/13 by Louisa. I am sure 90% 0f people following ACTC know about this.
You are absolutely correct. Fundamentals are the key.
That would be nice, but at $1 the market cap would be appox. $3 Billion. That would be a little high at this stage. I can see .30, which would put it at 900 million cap. At this price I can see a r/s of 1/20.
I agree. He would not have stayed this long without a contract. Apparently he is committed to ACTC.
This is also a good sign for ACTC. The investors are sorry to see him go. Apparently the company he left, he ran well. He left with the company with an excellent balance sheet.
It also shows a big boost in confidence, that someone with his experience in the industry would come aboard.
WELL DDLS-- .065 UP 7.08%
Same value with less shares. Just a number based on current shares. .07 will be equal to 7.00 a share if there is a 1/100 r/s. Pesonally, I would rather have a 1/50 r/s.
A/G is out to make money only, not run a company. They could have destroyed the company and get nothing, or settle and get all these shares.
I GUESS YOU DON'T KNOW.
YES I KNOW. HOW MANY DAYS TO THEY HAVE TO FILE?
TRUE, BUT THEY HAVE THE SAME AMOUNT OF VOTES TO APPROVE OR DISAPPROVE A R/S WHETHER THEY SIT ON THE BOARD OR NOT. Also, how do you know they still have that many shares? DO YOU KNOW HOW MANY THEY ALREADY SOLD?
That was corrected with post # 68065.
I believe by the end of the year it will higher than .07.
What does this have to do with sitting on the board? Their profit would be the same if they were on the board or not. Their objective is for investment gains only.
Carl Icahn? This is a six cent stock.Carl Icahn is in a different league.
Of course they do. That is their interest, but not to be on the board of directors.