Item 1.01 Entry into a Material Definitive Agreement.
On March 26, 2009, StemCells, Inc. (the "Company"), acting through its
wholly-owned subsidiary, StemCells Property Holding LLC, entered into an
agreement to purchase a building located in Sunnyvale, California from North
Pastoria Sunnyvale, LLC for $5.65 million. The Company expects to pay the
purchase price from its existing cash resources. The purchase is contingent upon
the completion of due diligence of the land and building to the Company's
satisfaction and is subject to customary pre-closing conditions. The Company
intends to build out a portion of the building for current operations, following
completion of the purchase, while keeping the remaining space available for the
Company's future business needs.
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