NeoStem to Acquire Progenitor for $20 Million of Stock

NeoStem has signed a definitive agreement to acquire Progenitor Cell Therapy, LLC, a US cell therapy service company. NeoStem, which did not address the question of whether it would offer Progenitor's services in China, said the transaction will be immediately accretive to earnings. NeoStem will issue 11.2 million shares and warrants to purchase between 1 million to 3 million additional shares to the current owners of Progenitor, giving the deal a value of about $20 million. More details.... Stock Symbol: (NYSE Amex: NBS)