Stem cell company Athersys Inc. (NSDQ:ATHX) has reached an agreement to sell about $13 million of its shares to unidentified private investors.
Athersys will raise the cash by selling about 4.4 million shares of its common stock and warrants to purchase up to an additional 1.3 million shares, according to the company. Adding 5.7 million shares would increase the Cleveland company’s number of shares outstanding by 30 percent to about 25 million.