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StemCells, Inc. Announces Proposed $20 Million Offering

NEWARK, Calif., July 15, 2014 (GLOBE NEWSWIRE) — StemCells, Inc. (Nasdaq:STEM), today announced its intent to offer and sell 11,299,435 shares of common stock and short term warrants for the purchase of up to 9,604,520 additional shares of common stock to two well recognized institutional biotechnology investors, subject to market and other conditions, for gross proceeds of $20 million, before deducting placement fees and other offering expenses. StemCells intends to use the net proceeds of the offering for general corporate purposes, including working capital, product development and capital expenditures.

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