NeoStem, Inc.announced the pricing of  their underwritten public offering for 13,750,000 units priced  at US$1.20 per unit. JMP Securities LLC and Lazard Capital Markets LLC were hired to act as the joint bookrunners for the tranaction.  National Securities Corporation, Maxim Group LLC and Morgan Joseph TriArtisan LLC acted as the co-managers of the deal.  

The Company announced that they are expecting US$16,500,000 in gross proceeds. The amount was estimated prior to deduction of underwriting commissions and discounts, as well as offering expenses payable by the NeoStem. The company said that they will the funds from the offering for working capital purposes, as well as research and development of their cell therapeutic product candidates and for the expansion of their business units and for other general corporate purposes.

NeoStem, Inc is a company engaged in the development and manufacturing of cell-based therapies. In January 2011, NeoStem acquired Progenitor Cell Therapy, followed by a merger agreement for the  acquisition of  Amorcyte, Inc. Both transactions helped NeoStem to achieve the company's mission to capture the standard shift to cell therapy.