International Stem Cell Corporation announced a private placement of an unsecured, non-convertible 2021 promissory note for gross proceeds of $250,000 on January 13, 2022. The transaction included participation from returning investor Andrey Semechkin. The note will mature on March 15, 2022 and will carry a fixed interest rate of 4.5% per annum.

The note may be pre-paid by the company without penalty at any time.