BioStem secures access to $40 million equity facility

BioStem Technologies entered a common-stock purchase agreement giving it the option to sell Roth Principal Investments up to $40 million of shares over 36 months. BioStem controls the timing and amount of any sales, while purchase prices would be set at 97% of the applicable volume-weighted average price for market-open and intraday purchases and 95% for pre- and post-market purchases. The company registered up to 12,050,000 shares for resale. Issuing all of them would equal approximately 40.2% of BioStem's outstanding stock as of September 17, creating substantial potential dilution and selling pressure.