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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
STEMCELLS, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
85857R105
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(CUSIP NUMBER)
December 9, 2003
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(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
notes).
Page 1 of 9 Pages
CUSIP No. 85857R105 13G Page 2 of 9 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
The Riverview Group LLC
- -----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES
-----------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,348,005
OWNED BY
-----------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING
-----------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,348,005
- -----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,348,005
- -----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
12.65%
- -----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
00
- -----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 85857R105 13G Page 3 of 9 Pages
- -----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Millennium Holding Group, L.P.
- -----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES
-----------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,348,005
OWNED BY
-----------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING
-----------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,348,005
- -----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,348,005
- -----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES **
[ ]
- -----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
12.65%
- -----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 85857R105 13G Page 4 of 9 Pages
- -----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Millennium Management, LLC
- -----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES
-----------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,348,005
OWNED BY
-----------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING
-----------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,348,005
- -----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,348,005
- -----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
12.65%
- -----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
00
- -----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 85857R105 13G Page 5 of 9 Pages
- -----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS (ENTITIES ONLY)
Israel A. Englander
- -----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES
---------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,348,005
OWNED BY
---------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING
---------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,348,005
- -----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,348,005
- -----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
12.65%
- -----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
- -----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 85857R105 13G Page 6 of 9 Pages
Item 1.
(a) Name of Issuer
StemCells, Inc., a Delaware corporation (the "Company").
(b) Address of Issuer's Principal Executive Offices:
3155 Porter Drive, Palo Alto, California, 94304
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
The Riverview Group, LLC
c/o Millennium Management, LLC
666 Fifth Avenue
New York, New York 10103
Citizenship: Delaware
Millennium Holding Group, L.P.
c/o Millennium Management, LLC
666 Fifth Avenue
New York, New York 10103
Citizenship: Delaware
Millennium Management, LLC
666 Fifth Avenue
New York, New York 10103
Citizenship: Delaware
Israel A. Englander
c/o Millennium Management, LLC
666 Fifth Avenue
New York, New York 10103
Citizenship: United States
(d) Title of Class of Securities
Common Stock, par value $0.01 per share
(e) CUSIP Number 85857R105
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
CUSIP No. 85857R105 13G Page 7 of 9 Pages
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
Item 4. Ownership
(a) Amount Beneficially Owned
As of the date of this filing, each Reporting Person may be deemed the
beneficial owner of (i) 4,025,289 shares of Common Stock owned outright by The
Riverview Group LLC, a Delaware limited liability company ("Riverview") and (ii)
1,322,716 shares of Common Stock currently issuable to Riverview upon the
exercise of certain warrants.
Note: The sole member of Riverview is Millennium Holding Group, L.P., a
Delaware limited partnership ("Holding"). Millennium Management, LLC, a Delaware
limited liability company ("Millennium Management"), is the general partner of
Holding and consequently has voting control and investment discretion over
securities owned by Holding and by Riverview. Israel A. Englander
("Mr. Englander") is the sole managing member of Millennium Management. As a
result, Mr. Englander may be considered the beneficial owner of any shares
deemed to be beneficially owned by Millennium Management. Each of Holding,
Millennium Management and Mr. Englander disclaims any beneficial ownership of
the shares owned by Riverview.
Note: Millennium Partners, L.P., a Cayman Islands limited partnership
("Partners"), is a limited partner of Holding. As a limited partner, Partners
has no ability to control Holding. Therefore, as of the date of this filing,
Partners may not be deemed a beneficial owner of the shares of the Company or a
member of the above-listed group.
(b) Percent of Class
Approximately 12.65% as of the date of this filing. (Based on the Company's
424B2 Prospectus (the "Prospectus") filed on December 10, 2003, (i) there were
35,969,400 shares of Common Stock issued and outstanding as of December 3, 2003
and (ii) 5,000,000 shares of Common Stock were issued pursuant to the
Prospectus. In addition, Riverview owns the warrants to purchase 1,322,716
shares of Common Stock referred to in the first paragraph of Item 4(a) above.)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
-0-
CUSIP No. 85857R105 13G Page 8 of 9 Pages
(ii) Shared power to vote or to direct the vote
5,348,005 shares of Common Stock
(iii) Sole power to dispose or to direct the disposition of
-0-
(iv) Shared power to dispose or to direct he disposition of
5,348,005 shares of Common Stock
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
This statement is filed by:
(i) Riverview;
(ii) Holding, as the sole member of Riverview;
(iii) Millennium Management, as the general partner and investment advisor
of Holding; and
(iv) Mr. Englander, as the sole managing member of Millennium Management.
Item 9. Notice of Dissolution of Group
Not applicable
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
CUSIP No. 85857R105 13G Page 9 of 9 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth
in this statement is true, complete, and correct.
Dated: December 19, 2003
THE RIVERVIEW GROUP, LLC MILLENNIUM HOLDING GROUP, L.P.
By: Millennium Holding Group, L.P., By: Millennium Management, LLC
its sole member its general partner
By: Millennium Management, LLC By:/s/ Israel A. Englander
its general partner ----------------------------
Name: Israel A. Englander
Title: Managing Member
By:/s/ Terry Feeney
--------------------------------
Name: Terry Feeney
Title: Chief Operating Officer
MILLENNIUM MANAGEMENT, LLC
By:/s/ Israel A. Englander /s/ Israel A. Englander
-------------------------------- -------------------------------
Name: Israel A. Englander Israel A. Englander
Title: Managing Member