Albany, New York (09/26/2014) – Medbox Inc (OTCMKTS:MDBX) announced the completion of its second capital raise. The company said it raised $2.5 million through the placement of convertible debentures. It said the debentures are convertible to its common stock at the price of $11.75 per share. However, the conversion would be upon certain adjustments by the company. Shares of the Medbox edged up 15.31% to 11.15 yesterday. Medbox Inc (OTCMKTS:MDBX) said the financing under the just announced convertible debentures will be done in two tranches, of which $1 million was already closed last week. The company intends to use the proceeds to fund its business pipeline and geographic expansion. Some funds would also go into research and development.
A significant investor in Asterias Biotherapeutics Inc (OTCBB:ASTY) just made another bullish move in the stock. Scarsdale Equities LLC, which already owns more than 10% equity stake in the $36 million biotechnology company, acquired 25,000 more shares. SEC filings revealed that the investor acquired the shares at $4.89 apiece for a total of $122,250. When institutional investors get bullish, it is worth taking notice. There could be something big down the road. The company ended 2Q with almost $13 million in the bank, and its working capital surplus was about $20 million. The company has access to $14.3 million in grant from California Institute of Regenerative Medicine following a recent FDA approval. Asterias Biotherapeutics Inc (OTCBB:ASTY) is focused in the development and licensing of technologies that have a wide range of application in the medical field. Shares of the company jumped up 10% yesterday, but are up more than 68% this year.
NuState Energy Holdings, Inc. (OTCMKTS:NSEH), a $ 554,826 company, announced a shakeup of its management. The company said that after meeting with its new investment team, it was high time to make a move that would lead to the creation of value that investors can love. As such, among other things the company named Thomas Murphy its new Chairman and CEO. It cited that the incoming CEO is a man of many achievements and his leadership, and experience should help take NuState Energy Holdings, Inc. (OTCMKTS:NSEH) to the next level. At least, in terms of growth and creation of value. Investors loved the news, and share price edged up 37.5%.