Advanced Cell Technology Announces Proposed...( ALAMEDA Calif. Aug. 20 /- Advance...)

ALAMEDA, Calif., Aug. 20 /PRNewswire-FirstCall/ -- Advanced Cell Technology, Inc. (OTC Bulletin Board: ACTC) (ACTC) announced today that subject to market conditions, it plans to privately offer up to $10,000,000 of senior secured convertible debentures and warrants. The timing of the closing of the offering will be subject to market conditions. The proceeds of the financing are expected to be used to fund working capital, including costs associated with advancing the technology we expect to acquire in our pending acquisition of Mytogen to Phase II clinical trials.

The financing is expected to be in the form of up to $10,000,000 principal amount of senior secured convertible debentures, with accompanying warrants. The debentures are expected to have a term of no more than 36 months, amortizing on a basis that will result in full payment by maturity, with amortization payable in cash or stock, at the Company's option. The debentures are also expected to be convertible into common stock and to be accompanied by warrants for the Company's common stock, with conversion and exercise prices based on market conditions. Both the warrants and the debentures are anticipated to contain customary anti-dilution provisions.

All terms are subject to market conditions and may vary materially from those set forth above. No assurance is given that the Company will be able to close the financing described herein, or that if a financing is closed that the terms and conditions of the financing will not differ materially from those described herein.

The offering will be conducted as a private placement made only to accredited buyers in accordance with Section 4(2) of the Securities Act. The Securities will not be registered under the Securities Act and may not be offered or sold without registration unless an exemption from such registration is available. This notice is issued pursuant to Rule 135c of the Securities Act, and does not constitute an offer to sell t
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SOURCE Advanced Cell Technology, Inc. Copyright©2007 PR Newswire.

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