Aastrom raises $12 million

Aastrom Biosciences Inc. (NASDAQ:ASTM) raised $12 million through the sale of 46.2 million units at $0.26 in a follow-on underwritten by Oppenheimer. Each unit comprises a share, a five-year warrant to purchase 0.75 shares and a six-month warrant to purchase 0.5 shares. Each whole five-year and six-month warrant is exercisable at $0.37 and $0.26, respectively. Aastrom proposed the offering late Thursday, but did not disclose the number of units or the price. ...