Company Type Of Number Of Amount Investors; Placement Agents;
(Symbol) Financing Shares, Units Raised (M) Details (Date)
Or Warrants (M)
Aastrom Biosciences Private ND $5 Aastrom sold $5M in Series I convertible
Inc. (ASTM) placement preferred stock to a single investor; the pre-
ferred stock yields 5% annual interest and is
convertible for the 1st nine months only af-
ter the market price of Aastrom's common
stock reaches $4.83 per share; Aastrom will
register the underlying shares for resale (7/6)
Advanced Tissue Private ND $25 Advanced Tissue raised $25M through the
Sciences Inc. (ATIS) placement sale of Series B convertible preferred
stock to a group of new investors; the pre-
ferred stock, which earns 5% interest per year,
can be converted into common stock at a
premium to market if the trading price goes
above $8 per share; Advanced Tissue will
register the underlying shares for resale
(7/13)
Amylin Institutional 4S $13 Amylin sold 4M shares of newly issued
Pharmaceuticals offering of stock at $3.25 each to 2 new institutional
Inc. (AMLN) registered investors and to company insiders, inclu-
stock ding Joseph Cook Jr., chairman and CEO,
and Howard (Ted) Greene, cofounder and
director; also investing were the State of
Wisconsin Investment Board, a current
institutional investor and certain other
individual investors; Hambrecht & Quist
LLC acted as advisor (7/29)
ChemTrak Inc. Private ND $0.2 ChemTrak said it received $150,000 of
(CMTRD) placement equity financing, but supplied no details
(7/9)
Corvas Exercise of 1.03S $3.7 Corvas received $3.7M from a group of
International warrants current institutional investors that accepted
Inc. (CVAS) the firm's offer to exercise their warrants
early at a discount; Corvas will issue 1.03M
shares in exchange (7/22)
Hemosol Inc. Rights 2.44U $5 Hemosol sold 2.44M units at US$2.05 each
(TSE:HML; Canada) offering to existing shareholders; each unit consists
of 1 common share and 0.5 warrant that can
be used to buy 1 share at US$2.57 until
12/21/99; major shareholder MDS Inc. sub-
scribed to 1.46M of the units, increasing
its stake in Hemosol to 34% (7/24)
LeukoSite Inc. Private 1.97S $11.8 LeukoSite sold 1.97M unregistered shares
(LKST) placement to new and current shareholders at $6 each
(an 18.6% discount to the market) for pro-
ceeds of $11.8M; new investors included Gold-
man, Sachs & Co. and Perseus Capital LLC (7/6)
Pacific Private 1.47S $2.6 Pacific Pharmaceuticals and its subsidiary
Pharmaceuticals placement B-G Development Corp. raised $2.6M by
Inc. (PHA) selling 1.47M convertible preferred shares
of B-G Development to undisclosed invest-
ors; each share of preferred stock is con-
vertible into 1 share common stock (7/8)
Ribi ImmunoChem Private 0.082S $8.2 Ribi raised $8.24M by selling 8,240 shares
Research Inc. (RIBI) placement of convertible preferred stock at $1,000 each
to a single institutional investor; the preferred
stock pays 5% annual interest and can be
converted into common stock after 90 days
but before 120 days at $6.04 per share; there-
after, the conversion rate is a floating price;
Ribi will register the underlying stock for
resale (7/17)
SciClone Equity line — $32 SciClone will get a $32M line of credit from
Pharmaceuticals of credit an institutional investor; the fund is managed
Inc. (SCLN) by the Palladin Group LP; SciClone can access
up to $32M over a 2-year period (up to $4M
per quarter) through the sale of its common
stock, at a 3% discount to market; the investor
received a 5-year warrant to buy 0.2M shares
of SciClone stock at $5.53 per share (7/8)
Therapeutic Interim ND $3.2 Therapeutic Antibodies raised $3.15M in
Antibodies Inc. financing interim financing, which consisted of
(LSE:TAB) short-term interest-bearing notes with
warrants; the notes carry a 15% coupon and
are repayable in 180 days; the 5-year war-
rants can be used to buy 0.315M shares of
common stock at market price; the com-
pany's chairman, Martin Brown, and its
CEO, Andrew Heath, both participated in the
financing, contributing $0.375M in all (6/29)*
Tm Bioscience Corp. Private 18.47W $10.1 Tm Bioscience sold 18.47M special war-
(Canada) placement rants at US$0.55 each to 2 main investors;
13.1M of the warrants were placed privately
by Yorkton Securities Inc.; the remainder
were bought by the Canadian Medical Dis-
coveries Fund; Tm Biosciences will regis-
ter the underlying shares for resale; each
warrant can be converted into 1 common
share and 0.5 common share purchase
warrant; each common share purchase war-
rant can be exercised at US$0.68 until
6/24/00; prices converted at a rate of
C$1.47/US$1 (6/24)*
Vion Private ND $5 Vion placed $5M in convertible preferred
Pharmaceuticals placement stock with existing investors Elliott Assoc-
Inc. (VION) iates LP and Westgate International LP (7/1)
TOTAL: $111.5M
NOTES:
* Those financings marked with an asterisk (Therapeutic Antibodies Inc. and Tm Biosciences Corp.) occurred in 6/98. The proceeds have been attributed to that month and are not included in the totals above.
LSE = London Stock Exchange; ND = Not disclosed, reported and/or available; S = Shares; U = Units; TSE = Toronto Stock Exchange; W = Warrants
The financings in this chart include loans, bridge financings and other interim measures as well as sale of business units, debt offerings, rights offerings, exercise of warrants, institutional offerings of registered stock and standard private placements.