Total: $1,773.93M | ||||
Company |
Type Of Financing |
Number Of Shares, Units Or Warrants (M) |
Amount Raised (M) |
Investors; Placement |
| ||||
Adherex |
Sale of convertible notes |
N/A |
C$1.9 (US$1.45) |
Adherex completed a bridge financing, selling notes that accrue interest at 8% the first year and 12% if extended by the company into a second year; the notes are convertible at the price of a future financing; investors also got warrants to purchase about 1.35M shares at C$0.43 per share (12/4) |
Affymetrix |
Sale of convertible notes |
N/A |
$100 |
Affymetrix sold $100M of 0.75% senior notes due 2033 to institutional investors; the notes are convertible into common shares at $31.01 each; purchasers got an option to buy another $20M of notes (12/10) |
AnorMED Inc. |
Bought-deal financing |
5.2S |
C$25.48 (US$19.5) |
AnorMED entered a deal under which underwriters will sell the shares to the public at C$4.90 each; underwriters have an option on another 1M shares (12/8) |
Arena |
Private placement of convertible preferred stock |
N/A |
$35 |
Arena placed Series B-1 convertible preferred stock with two institutional investors; the stock is convertible at $7.50 per share and pays 4% interest; investors also got seven-year warrants to purchase up to 1.48M common shares at $10, and warrant units for Series B-2 convertible stock (12/24) |
Ariad |
Direct equity placement |
1.175S |
$9.4 |
Ariad raised $9.4M through the sale of shares in a direct placement priced at the five-day average ending Dec. 1; the stock was sold from a shelf registration statement, which is now closed (12/2) |
AVAX |
Sale of convertible notes |
7.1W |
$0.925 |
AVAX sold 5% bridge notes that mature May 17, 2004, and issued warrants convertible into about 7.1M shares at $0.143 per share (12/4) |
AVI BioPharma |
Direct equity placement |
3.25S and 0.974W |
$15 |
AVI raised $15M through the sale of shares at $4.62 each; investors also get about 904,000 five-year warrants to purchase shares at $5.50 apiece; investors have a 30-day option on another 1.62M shares at $4.62 each; Rodman & Renshaw was placement agent (12/4) |
Benitec Ltd. |
Private placement of stock |
9.1S |
A$10.9 (US$8.1) |
Benitec sold the shares at A$1.20 per share to institutional investors in Australia and Europe (12/17) |
BioGentech Corp. |
Various equity deals |
N/A |
$3.2 |
BioGentech said it completed a $1.6M financing with Gryphon Master Fund LP, secured $1.06M from a private trust, and raised $540,000 from a private investment banker (12/3) |
Boston Life |
Private placement of convertible stock and warrants |
6.4S and 3.46W |
$8 |
BLSI issued $8M of convertible preferred stock convertible into common shares at $1.25, and warrants for the purchase of 3.46M shares at $1.49 to $1.55 per share through December 2007; Burnham Hill Partners was placement agent (12/9) |
Cel-Sci Corp. |
Private placement of stock |
3S and 0.9W |
$2.55 |
Cel-Sci raised $2.55M through the sale of shares at $0.85 per share and warrants to purchase 900,000 shares at $1.32 each; Reedland Capital Partners advised Cel-Sci on part of the deal (12/2) |
Celsion Corp. |
Private placement of stock and warrants |
4.55U |
$4 |
Celsion sold the units at 88 cents apiece; each unit consists of one share and a warrant to purchase 0.30 shares at $1.25 per share; the lead investor was Asia Pacific Life Sciences Group Ltd. (12/16) |
Cyprotex plc |
Private placement of stock |
30S |
£3 (US$5.37) |
Cyrptotex placed 30M shares at 10 pence per share, a discount of 48.7 percent to the previous closing price (12/31)** |
DNAPrint |
Convertible debenture financing |
N/A |
$8 |
DNAP got a commitment from La Jolla Cove Investors Inc. for an investment of up to $8M to be paid at $400,000 per month for 20 months; the note is convertible into common stock and warrants (12/3) |
Elite |
Private placement of stock |
1.645S |
$3.29 |
Elite raised $3.29M through the sale of 1.645M shares; company directors were among the investors (12/4) |
Genzyme |
Private sale of convertible notes |
N/A |
$690 |
Genzyme sold $690M of notes with an interest rate of 1.25% that are convertible into common stock at $71.24 per share; the total includes the exercise of option on $90M of notes (12/4) |
Guilford |
Private placement of stock |
4.8S and 0.96W |
$27.4 |
Guilford sold 4.8M shares at $5.67 each along with seven-year warrants for the purchase of 960,000 shares at $7.55 per share (12/10) |
Helix BioMedix |
Private equity financing |
ND |
$1.2 |
Details of the financing were not disclosed (12/22) |
Innogenetics NV |
Offering and private placement |
1.92S |
€23 (US$28.2) |
Innogenetics completed a secondary offering under which it sold shares at €12 each through a public offering in Belgium and a private placement with institutional investors; ING Belgium was lead sole bookrunner, with KBC Securities co-lead manager |
Kosan |
Registered direct offering |
3.12S |
$28 |
Kosan reached agreements with institutional investors for the sale of about 3.12M shares at $9 each from an effective registration statement; SG Cowen Securities Corp., CIBC World Markets Corp. and Adams, Harkness & Hill Inc. were placement agents (12/10) |
Marshall |
Exercise of warrants |
ND |
US$10.1 |
Marshal Edwards raised US$10.1M from warrants exercised by shareholders (12/4) |
Medicure Inc. |
Exercise of warrants |
16.8W and 1.54U |
C$14.58 (US$11.25) |
Medicure said 16.8M warrants were exercised for one share each at C$0.81, and another 1.54M agent compensation units were exercised for C$0.65 apiece, each consisting of one share and one share common purchase warrant (12/24) |
NeoRx |
Private placement of convertible stock |
3.15S and 0.63W |
$15.75 |
NeoRx sold 1,575 Series B shares that are convertible into 3.15M common shares at $5 per share and five-year warrants convertible into 630,000 shares at $6 each; Leerink Swann & Co. was placement agent (12/8) |
NexMed |
Private placement of convertible notes |
N/A |
$6 |
NexMed sold $6M in 5% notes due May 2007; they are convertible at the average stock price for six months following closing, with a minimum price of $5 and a maximum of $6; The Tail Wind Fund Ltd. purchased $5.5M of the notes (12/15) |
November AG |
Private placement of stock |
6.5S |
€3.35 (US$4.16) |
November raised US$4.2M through the sale of shares at €5.10 each to institutional investors; Concord Effekten AG was lead manager (12/11) |
Pharmos |
Firm commitment underwritten deal |
10.5S |
$28.88 |
Pharmos sold 10.5M shares at $2.75 each in a firm commitment underwriting from an effective shelf registration statement; underwriters C.E. Unterberg, Towbin and Harris Nesbitt Gerard have an option to purchase another 1.575M share to cover overallotments (12/16) |
Sepracor |
Sale of convertible senior subordinate notes |
N/A |
$600 |
Sepracor sold $200M in Series A and $400M in Series B notes due 2008 and 2010, respectively; the Series A notes are convertible into common shares at $31.89 and the Series B at $29.84 per share; purchasers have an option on another $150M in notes (12/9) |
StemCell |
Private placement of stock |
5S |
$9.5 |
StemCell sold 5M shares at $1.90 apiece to an institutional investor (12/10) |
Stressgen |
Bought-deal financing |
10.64U |
C$20 (US$15.3) |
Stressgen entered a deal under which underwriters will sell the units at C$1.88 each; each unit consists of one share and one-half of a warrant; each whole warrant allows for the purchase of one share at C$2.44 for 36 months; underwriters have an option on another 10.64M units before closing, and 15% of the number sold after closing (12/8) |
Tm Bioscience Corp. |
Private placement of units |
37.5U |
C$12 (US$9.1) |
Tm sold 37.5M units at C$0.32 per unit; each unit consists of one common share and one-half of a warrant; a full warrant can be exercised for one share at C$0.40 each until June 22, 2005; Loewen, Ondaatje, McCutcheon Ltd. was lead placement agent, supported by Dlouhy Merchant Group Inc. and Vengate Capital Partners Co. (12/22) |
Transgenomic |
Revolving credit line |
N/A |
$7.5M |
Transgenomic got the credit line from Laurus Master Fund Ltd. to replace a $5M line with higher interest; Lazarus also got warrants to purchase 550,000 shares at a premium price (12/9) |
Valentis Inc. (VLTS) |
Private placement of stock and warrants |
3.2S and 1.3W |
$6.5 |
Valentis sold 3.2M common shares at $2.05 per share and five-year warrants exercisable for about 1.3M additional shares at $3 each; Perseus-Soros Biopharmaceutical Fund LP was among the investors (12/31) |
VaxGen Inc. (VXGN) |
Registered direct offering |
4.1S |
$28.7 |
VaxGen sold 4.1M shares at $7 each from an effec- tive registration statement; CIBC World Markets Corp.; Punk, Ziegel & Co.; and Enable Capital LLC were placement agents (12/4) |
Viragen Inc. (AMEX:VRA) |
Private placement of stock and warrants |
ND |
$4.2 |
Viragen said it raised $4.2M through the sale of stock and warrants to new and existing investors; details were not disclosed (12/30) |
V.I. Technologies Inc. (VITX) |
Private placement of stock |
4.45S and 2.89W |
$4 |
V.I. sold 4.45M shares at $0.90 each; investors can purchase another 1.11M shares at that price for five months, and they got four-year warrants to purchase another 1.78M shares at $1.32 each; SG Cowen Securities Corp. was placement agent (12/5) |
YM BioSciences Inc. (Canada; TSE:YM) |
Private placement of warrants |
10.9W |
C$19.1 (US$14.4) |
Each warrant sold for C$1.75 and included one share and one-half of a warrant; each full warrant allows the holder to purchase one share at C$2.50 for five years; SCO Securities LLC acted as the placement agent in the U.S.; in Canada, First Associates Investments Inc. acted as the lead agent for the syndicate (12/15) |
Notes: | ||||
This chart does not include real estate or manufacturing plant financings. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
@ Dates refer to the date of the press release. | ||||
N/A = Not available, applicable or reported. | ||||
** Denotes the date item ran in BioWorld International. | ||||
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange;OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange. |