Cord Blood America Secures Acquisition Financing
LAS VEGAS, June 1, 2011 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAID), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, today announced that the Company has filed a Form S-1 with the U.S. Securities and Exchange Commission in connection with its Securities Purchase Agreement with Tangiers Investors, L.P., with whom Cord Blood America has an existing Securities Purchase Agreement. Tangiers Investors has agreed to increase its current capitalization of the company.
The modification of the agreement with Tangiers Investors will provide up to $8 million, $5.7 million which is new capital, for Cord Blood America. This agreement coupled with seller financing, will help to conclude one of the LOI's previously disclosed at www.sec.gov.
"We're now in our due diligence phase with the acquisition and look forward to the next phases. Our first quarter results show the fruits of our acquisition strategy with revenues up 74 percent and gross profit up 132 percent. We're excited to continue this strategy and thank our partners for the increased capital and belief in CBAI," stated Matthew Schissler, Founder Chairman and CEO.
The entire Form S-1 filing is available at www.sec.gov .
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
Safe Harbor: THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT PERMITTED.
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SOURCE Cord Blood America, Inc.