Total: $532.47M | ||||
Company |
Type Of |
Number Of Shares, |
Amount |
Investors; Placement Agents; |
Access |
Private placement of convertible notes and warrants |
N/A |
$5 |
The 7.5% notes, due March 31, 2007, are convertible into stock at $0.22 per share; six-year warrants are exercisable at $0.26 per share; SCO Capital Partners LLC was lead investor (2/17) |
Advanced |
Private placement of stock and warrants |
10.2S and 5.1W |
$36 |
The shares were sold at $3.53 each, and the five- year warrants are exercisable at $3.81 per share; Lazard Capital Markets LLC was placement agent (2/28) |
Advaxis Inc. |
Private placement of convertible notes and warrants |
N/A and 4.5W |
$3 |
Cornell Capital Partners LP purchased the 6% notes; it can convert up to $300,000 of notes per month at the lesser of $0.287 per share or 95% of the lowest average 30-day price; the warrants are exercisable at $0.287 per share (2/6) |
AGI |
Private placement of stock |
33.73S |
€42.5 ($50.3) |
AGI gained a listing on the Alternative Investment Market and the Irish Stock Exchange through the placement with new and existing investors; Davy was broker for the deal (2/27) |
Amphioxus |
Private placement of securities |
N/A |
$3.8 |
The financing was completed along with the merger between Amphioxus and Stem Cell Innovations Inc. (formerly Interferon Sciences Inc.); the financing included the sale of notes, convertible stock and warrants (2/15) |
Antares |
Private placement of stock and warrants |
8.77S and 6.56W |
$10.96 |
The shares were sold at $1.25 each; the warrants are exercisable at $1.50 per share (2/28) |
Avalon |
Private placement of stock |
1.667S |
$7.25 |
Biotechnology Value Fund LP and other investors purchased the shares at $4.35 each; W.R. Ham- brecht was financial adviser (2/27) |
Avanir |
Warrants exercise |
0.697S |
$4.87 |
Class A warrants issued in December 2003 were exercised to purchase 697,096 shares at $7 per share (2/6) |
Bioxel Pharma |
Private placement of stock and warrants |
13.82S and 0.25W |
C$4.7 ($4.1) |
The shares were sold at C$0.34 each; investor Fonds de solidarite des travailleurs du Quebec, which now owns 14.9% of Bioxel, got the two- year warrants exercisable at C$0.34 per share (2/16) |
Callisto |
Private |
4.3S and |
$5.14 |
The shares were sold at $1.20 each; the 18-month warrants are exercisable at $1.60 per share (2/8) |
Cel-Sci Corp. |
Private placement of stock and warrants |
2.5S and 0.75W |
$1 |
The stock was sold at $0.40 per share; the five- year warrants are exercisable at $0.56 per share; the deal was made with a single investor (2/10) |
Chelsea |
Private placement of stock and warrants |
7.2S and 2.2W |
$21.5 |
Five-year warrants issued in the deal are exercisable at $4.20 per share; lead investor was Healthcor Management LP; others included RA Capital Management, Great Point Partners, GMT Capital and Vivo Ventures; Paramount BioCapital Inc. was placement agent (2/14) |
Chromos |
Private placement of stock and warrants |
30.05S and 30.05W |
C$6 ($5.2) |
Units consisting of one share and one warrant were sold at C$0.20 each; warrants are exercisable at C$0.25 per share for two years (2/2) |
ConjuChem |
Private placement of convertible notes |
N/A |
C$6.4 ($5.6) |
The investment group 1211417 Alberta Inc. purchased the debt as part of a reorganization of the company (2/24) |
EntreMed Inc. |
Private placement of stock and warrants |
13S and 6.5W |
$30 |
The shares were sold at about $2.31 each; the warrants are exercisable at $2.50 per share; investors included Celgene Corp.; SG Cowen & Co. LLC was lead placement agent; Rodman & Renshaw LLC was co-agent (2/3) |
EpiCept Corp.(EPCT) |
Private |
4.1S and 1W |
$11.6 |
The shares were sold at $2.85 each; the five-year warrants are exercisable at $4 per share; Rodman & Renshaw LLC was placement agent (2/8) |
EQiTX Ltd. |
Private placement of stock |
2.4S |
A$0.48 ($0.35) |
The shares were sold at A$0.20 each; Capital Investment Partners was placement agent (2/13) |
Generex |
Warrants exercise |
ND |
$11 |
Investors exercised previously issued warrants to purchase $11M in stock, at prices from $0.82 to $1.25 per share; investors got 4.77M new five-year warrants exercisable at $3 per share (2/28) |
GPC Biotech |
Private placement of stock |
2.86S |
€36.2 ($43.2) |
Two investment companies owned by the family of SAP AG co-founder Dietmar Hopp purchased the shares at €12.67 each, gaining an 8.7% stake (2/23) |
Hollis-Eden |
Private placement of stock and warrants |
4S and 0.8W |
$26 |
The shares were sold from a shelf registration at $6.50 each; the four-year warrants are exercisable at $8.75 per share; Rodman & Renshaw LLC was lead placement agent; Canaccord Adams Inc. was co-agent (2/2) |
MacroChem Corp. |
Private convertible notes and warrants |
N/A and 5.48W |
$5.75 |
The second closing of the financing brought the total to $8.25; $2.5M was raised in December; the six-year warrants are exercisable at $1.26 per share; SCO Capital Partners LLC was lead investor; others included Perceptive Life Sciences, DAC Fonds, Midsouth Investors Fund LP, Quogue Capital LLC and Iroquois Master Fund Ltd.; SCO Securities LLC was placement agent (2/13) |
Medistem |
Private placement of convertible stock and warrants |
4.28S and 4.28W |
$1.5 |
The convertible shares were sold at $0.35 each; the warrants are exercisable at $0.50 and $0.75 per share (2/28) |
NeoRx Corp. |
Private placement of stock and warrants |
92.9S and 25.4W |
$65 |
The deal includes a $3.5M bridge loan until the financing closes; shares were sold at $0.70 each, and the five-year warrants are exercisable at $0.77 per share; investors include MPM Capital, which would own 30% of NeoRx after closing, and Bay City Capital, Deerfield Management Co., Abingworth and T. Rowe Price (2/1) |
Neurochem |
Warrants exercise |
1.2S |
C$9.4 ($8.1) |
Picchio Pharma Inc. exercised warrants to purchase 1.2M shares; the warrants were issued in a February 2003 financing; Picchio now owns 28.6% of Neurochem's outstanding shares (2/16) |
Novavax Inc. |
Registered direct offering |
4.598S |
$20 |
The stock was sold to Kleiner Perkins Caufield & Byers ($12.5M) and Prospect Venture Partners ($7.5M) in a direct offering at $4.35 per share (2/27) |
Pro- |
Private placement of convertible notes and warrants |
N/A and 1.5W |
$10 |
The 7% notes will be redeemed in 18 monthly payments beginning in August, with cash or stock discounted 5%; they are convertible into stock at $3.35 per share; the five-year warrants are exercisable at $3.35 per share (2/15) |
Santarus Inc. |
Committed |
N/A |
N/A |
Kingsbridge Capital Ltd. committed to provide up to $75M of capital for three years through the purchase of shares at discounts of 6% to 10%; Santarus will determine the timing and amount of any draw-down (2/3) |
Tapestry |
Private placement of stock and warrants |
12.75S and 12.75W |
$25.5 |
Shares were sold at $2 each on a post-split basis; the five-year warrants are exercisable at $2.40 per share; investors were led by Special Situations Funds, Tang Capital Partners LP and Baker Brothers Investments (2/2) |
Tripep AB |
Private placement of stock |
2S |
SEK26 ($3.1) |
Shares were sold to a small group of investors at SEK13 each; Remium was adviser in the deal (2/10) |
VASTox plc |
Private placement of stock |
5.9S |
£10.45 ($18.3) |
The shares were placed at 177 pence each; the deal was fully underwritten by Evolution Securities Ltd. (2/27) |
VaxGen Inc. |
Private placement of stock and warrants |
3.5S and 0.7W |
$26.95 |
Five-year warrants issued in the deal are exercisable at $9.24 per share (2/9) |
ViRexx |
Private placement of stock and warrants |
10.9S and 10.9W |
C$12 ($10.4) |
Units consisting of one share and one warrant were sold at C$1.10 each; the two-year warrants are exercisable at C$1.50 per share (2/16) |
XOMA Ltd. |
Private placement of |
N/A |
$12 |
$60M in existing notes were exchanged and $12M in new notes issued; the 6.5% notes are due in 2012; Piper Jaffray & Co. and Canaccord Adams Inc. managed the exchange and placement (2/9) |
YM |
Registered direct offering |
9.436S |
$40 |
Great Point Partners LLC was lead investor; SG Cowen & Co. LLC was lead placement agent; Dundee Securities Corp. and Canaccord Capital Corp. were co-agents (2/14) |
Notes: | ||||
This chart does not include real estate or manufacturing plant financings, or debt deals done to replace existing debt. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
Currency conversions are based on exchange rates at the time of the deal. | ||||
N/A = Not applicable; ND = Not disclosed. | ||||
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CDNX = Canadian Venture Exchange; ISE = Irish Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SSE = Stockholm Stock Exchange; TSE = Toronto Stock Exchange. | ||||
