Cellular Biomedicine Group Announces Exercise of Stock Options to Purchase Common Stock
December 23 2014 - 8:30AM
Cellular Biomedicine Group, Inc. (Nasdaq:CBMG) (the "Company"), a
biomedicine firm engaged in the development of effective treatments
for degenerative and cancerous diseases, is pleased to announce
today that options ("Options") to purchase an aggregate of
1,000,000 shares of the Company's common stock have been exercised
at an exercise price of $8.00 per share, bringing an aggregate of
$8,000,000 in exercise proceeds to the Company.
The Options were originally issued on July 2, 2014 to investor
Francis Leung Pak To, a veteran Hong Kong investment banker. The
Options were exercisable for three years at an exercise price of
$8.00 per share. Prior to the exercise, Mr. Leung assigned
620,000 options to existing and new investors, which were
immediately exercised in full.
Mr. Leung has over 30 years of experience in investment banking,
in particular, the field of corporate finance involving capital
raising, mergers and acquisitions, corporate restructuring and
other general financial advisory activities, and principal
investments in Hong Kong and the PRC. He is currently the Chairman
(Greater China) and a managing partner of CVC Asia Pacific. On a
personal basis, Mr. Leung is a seasoned growth capital
investor.
"The early exercise of the Options demonstrates our investors'
confidence in the Company and is contributing to the long-term
development of the Company's immune cell therapy platform,"
commented Dr. William Wei Cao, Chief Executive Officer of Cellular
Biomedicine Group. "The additional cash proceeds will allow
Cellular Biomedicine Group to accelerate and expand the scope of
its 2015 strategic plan while fortifying the balance sheet to
attract new investors. We look forward to releasing the
Company's interim Phase IIb clinical data for Rejoin™ human
adipose-derived mesenchymal progenitor cell (haMPC) regenerative
medicine treatment for Knee Osteoarthritis (KOA) in the first
quarter of 2015."
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell
therapies for the treatment of certain degenerative diseases and
cancers. Our developmental stem cell, progenitor cell, and
immune cell projects are the result of research and development by
scientists and doctors from China and the United
States. Our flagship GMP facility, consisting of eight independent
cell production lines, is designed, certified and managed according
to U.S. standards. To learn more about CBMG, please visit:
www.cellbiomedgroup.com
Forward-Looking Statements
Statements in this press release relating to plans, strategies,
trends, specific activities or investments, and other statements
that are not descriptions of historical facts may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
information is inherently subject to risks and uncertainties, and
actual results could differ materially from those currently
anticipated due to a number of factors, which include, but are not
limited to, risk factors inherent in doing business.
Forward-looking statements may be identified by terms such as
"may," "will," "expects," "plans," "intends," "estimates,"
"potential," or "continue," or similar terms or the negative of
these terms. Although CBMG believes the expectations reflected in
the forward-looking statements are reasonable, they cannot
guarantee that future results, levels of activity, performance or
achievements will be obtained. CBMG does not have any obligation to
update these forward-looking statements other than as required by
law.
CONTACT: Sarah Kelly
Director of Corporate Communications, CBMG
+1 650 566-5064
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Grayling
+1 646 284-9427
vivian.chen@grayling.com
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