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Stem Cell Innovations Raises 1 Million

Cell biology company Stem Cell Innovations in Scotch Plains raised $1 million by issuing warrants and a convertible note for the purchase of 10 million sharesCell biology company Stem Cell Innovations (OTC Bulletin Board: SCLL) in Scotch Plains raised $1 million by issuing warrants and a convertible note for the purchase of 10 million shares of its common stock to an existing investor. The warrants are exercisable until Nov. 16, 2011, at a price of $0.12 per share and the convertible note comes due Nov. 16, 2007, and bears interest at 10% annually. Shares of Stem Cell Innovations were up $0.02 to $0.17 in morning trading.

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