Q Therapeutics reports plans to price initial public offering of units

Deal sells 5 million units of a common share, a quarter-share warrant

By Devika Patel

Knoxville, Tenn., July 5 - Q Therapeutics, Inc. plans to price its initial public offering of units, according to a Form S-1 filed Friday with the Securities and Exchange Commission. It expects its shares will trade on the OTCBB exchange under the symbol, "QCEL." The deal was announced June 20.

The company will sell 5 million units of one common share and a quarter-share warrant on a best-efforts basis. The warrants are exercisable for four years.

MLV & Co. LLC is the sole bookrunning manager.

Proceeds will be used for the clinical development and Phase 1/2a study of the company's Q-Cells product in patients with Amyotrophic Lateral Sclerosis, working capital needs, capital expenditures and other general corporate purposes.

The biotechnology company is based in Salt Lake City.

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