NeoStem (NBS) Prices 5M Common Offering at $1.35/Share

NeoStem, Inc. (AMEX: NBS) announced today that it priced a public offering of 5,000,000 shares of its common stock at $1.35 per share. Net proceeds from the offering, after underwriting discounts and commissions and expenses, will be approximately $5,697,500. NeoStem has granted the underwriters an option to purchase up to an additional 750,000 shares to cover over-allotments, if any.

"We were pleased by the participation of new institutional investors as well as the additional investment by our largest shareholder and other insider participation," noted Dr. Robin Smith, Chairman and CEO. "We remain committed to expanding our revenue opportunities in China, both through our pharmaceutical business and soon to be launched adult stem cell initiatives. The proceeds of this offering will help us reach our goals."

The Company intends to use the net proceeds from this offering for the construction of manufacturing and lab facilities in China and the U.S., stem cell-related research and development projects, development and licensing of new pharmaceutical products in China, and for working capital and general corporate purposes.

Roth Capital Partners, LLC served as sole book-running manager and Maxim Group and Gilford Securities acted as co-managers for the offering. The offering is subject to customary closing conditions and is expected to close on February 18, 2010.