December 12, 2011
ACT Settles With Stock Option, Debt Holders
Marlborough biotech company Advanced Cell Technology Inc. plans to authorize new shares of its stock as part of settlements with 40 parties that hold company stock options and debt.
The company is calling for stockholders to agree to issue 240.5 million shares to the 40 parties in exchange for the release of any current or future claims.
The stockholder vote will be held at a special meeting Jan. 24 in Palm Springs, Calif.
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