StemCells to issue up to $100M of securities

Biotech company StemCells Inc. said Wednesday it has filed a new shelf registration statement with the Securities and Exchange Commission to issue up to $100 million of debt and equity securities.

A shelf registration allows a company to sell securities from time to time in one or more separate offerings.

This shelf registration replaces the company's current one, which was filed in October 2005 and expires in December. The expiring shelf registration is for the issuance of up to $100 million of common stock, $59 million of which remains available. Any remaining shares under the expiring shelf will be de-registered once the new shelf is declared effective by the SEC, StemCells said.

Proceeds from any offerings may be used for future acquisitions, working capital and other corporate purposes, the company said.

StemCells shares closed Tuesday at $1.23.