Advanced Cell Technology (OTC: ACTC) has just announced that the company has secured a whopping $35 million funding commitment from Lincoln Park Capital Fund. The industry leader in regenerative medicine has many uses for this money since the commitment strengthens the financial foundation of Advanced Cell Technology. It will also be an immense help to the three ongoing Phase I and Phase II clinical trials that the company is hosting. The extra funding will aid the 2013 research and development plans as well.
Lincoln Park Capital Fund and Advanced Cell Technology have entered a common stock purchase agreement worth $35 million. As soon as the agreement was signed, Lincoln Park Capital Fund put forward $800,000 to make the initial purchase from this penny stock company. For the initial purchase, the price per share was set at $0.08 per share.
Under the terms set forth by the agreement, Advanced Cell Technology has agreed to register the shares sold to Lincoln Park with the U.S. Securities and Exchange Commission (SEC). Once this part of the transaction is completed, Advanced Cell Technology will have another three years in which it can sell up to $34.2 million worth of the common stock of the company to Lincoln Park Capital Fund.
About Advanced Cell Technology and Lincoln Park Capital Fund
Advanced Cell Technology is a penny stock company whose shares are currently being traded in very high volume and is one of the most active in the OTC markets. The company is a biotechnology firm that deals with the application of cellular technology in the creation and development of regenerative medicine.
Lincoln Park Capital Fund (LPC) on the other hand, is a Chicago-based institutional investor company. As a whole, the company manages a portfolio of investments for both public as well as private companies and individuals. It undertakes fund growth as well as invests in the form of multiyear financial commitments like the one it has entered into with Advanced Cell Technology.
Penny Stock Market Movement
Advanced Cell Technology has just issued a press release commenting on its new relationship with LPC today. It has had no effect on the stock prices of the company. At the end of the trading session, Advanced Cell Technology shares were priced at $0.08 per share, which is the same as it was at the end of the previous closing session. Over the last three months, the average volume of share movement has been nearly 5.5 million shares.
Another high volume penny stock on the OTC market is Save The World Air (OTC: ZERO). This company lost 5.1% of its value in the last trading session to reach $1.48 per share. Save The World Air is a company that is striving for the creation of technology that concentrates on fuel efficiency, energy production efficiency and related fields. Chimera Energy (OTC: CHMR) is another penny stock that is faring well with a 3.9% share price increase to reach $0.54 per share. It deals with the development of domestic shale gas resources in the U.S., which is what America needs on a broad scale so that it can stop sending billions of dollars every month to countries that do not share America’s interests. There is nothing wrong with creating jobs in America, too.