SOURCE: International Stem Cell Corporation

International Stem Cell Corporation

July 28, 2015 13:04 ET

International Stem Cell Corporation Announces 1:150 Reverse Stock Split

CARLSBAD, CA--(Marketwired - July 28, 2015) - International Stem Cell Corporation (OTCQB: ISCO), a California-based biotechnology company developing novel stem cell based therapies and biomedical products, announced today that it will complete a 1:150 reverse split of its common stock.

As of the opening of trading on July 29, 2015, the Company's common stock will trade on the OTC Markets Group on a reverse stock split adjusted basis. For a period of approximately 20 days, the ticker symbol of the common stock will be ISCOD. Every 150 shares of ISCO's issued and outstanding pre-reverse split common stock will be automatically converted into one issued and outstanding share of post-reverse split common stock, with no change in par value per share. Stockholders will receive an additional share of post-reverse split common stock in lieu of any fractional shares.

Andrey Semechkin, Ph.D., CEO of ISCO, said, "This is a significant milestone for ISCO as we look to increase the visibility of the company to investors and potential partners and to up-list to a national stock exchange. This announcement builds upon the momentum of our business strategy that has progressed rapidly since earlier this year, as we strengthened our position as a leader in human stem cell technology."

The reverse stock split affects all shares of the Company's common stock outstanding, as well as the number of shares of common stock available for issuance under the Company's Equity Participation Plans. In addition, the reverse stock split proportionally reduces the number of shares of common stock issuable upon the conversion of shares of preferred stock or upon the exercise of stock options or warrants outstanding, with corresponding increases in the exercise or conversion prices of those securities.

Stockholders who hold their shares in "street name" (such as through a broker or other nominee) should not have to take any action to convert their pre-reverse split shares to post-reverse split shares. Stockholders who hold shares in certificate form will receive information from our transfer agent about how to exchange outstanding certificates for post-reverse split shares.

More information is available in ISCO's Current Report on Form 8-K, filed July 28, 2015 with the SEC.

About International Stem Cell Corporation

International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenetic homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology (www.lifelinecelltech.com), and stem cell-based skin care products through its subsidiary Lifeline Skin Care (www.lifelineskincare.com). More information is available at www.internationalstemcell.com and companyblog.intlstemcell.com.

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Safe harbor statement

Statements pertaining to anticipated developments, progress of research and development, and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates,") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company's business, particularly those mentioned in the cautionary statements found in the company's Securities and Exchange Commission filings. The company disclaims any intent or obligation to update forward-looking statements.

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