International Stem Cell Corporation (OTCPK:ISCO) announced a private placement of 10,125,000 common shares at $0.20 per share for gross proceeds of $2,025,000 on January 22, 2013. The company also issued 5,062,500 warrants in the transaction. Each warrant entitles the holder to purchase an additional common share of the company at $0.20 per share for a period of five years from the date of issuance. Andrey Semechkin, the Chief Executive Officer of the company, invested for 10,000,000 common shares and John Simon Craw, the Executive Vice President Business Development, invested for 125,000 common shares. The investors were accredited investors. Douglas Rein of DLA Piper US LLP served as the legal advisor to the company. The securities were issued pursuant to Regulation D.

On January 22, 2013, International Stem Cell Corporation closed the transaction.