Calgene Inc. (NASDAQ:CGNE), developer of the Flavr Savr tomato,has raised $20 million through stock purchase agreements with HongKong and New York-based investment companies. Closing will occurwhen a registration statement filed with the Securities and ExchangeCommission is declared effective.Calgene declined to say how many shares the deals represent, butspokeswoman Carolyn Hayworth said the shares were priced at adiscount based on a formula related to closing prices. Prior to this deal,the Davis, Calif. company had 25.4 million shares outstanding,Hayworth said.The first placement involved a $9 million purchase of Calgene's sharesby The Mingly Corp. Ltd., a Hong Kong company traded on the HongKong stock exchange. Mingly, through a subsidiary, has propertydevelopment and manufacturing investments in Hong Kong, SoutheastAsia, and China. Calgene and Mingly have also signed a letter of intentto form a new Hong Kong-based joint venture to commercializeCalgene technologies in China. Hayworth would not provide detailsabout the arrangement or when it is likely to begin.A second placement was a $10 million deal with Fletcher CapitalMarkets Inc. of New York. In addition, a private U.S. investorpurchased $1 million worth of Calgene's stock, the company said.Calgene stock on Friday closed at $12.13, up 38 cents. _ PhilippaMaister
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