Total: $1,796.73M | ||||
Company |
Type Of |
Number |
Amount |
Investors; Placement Agents; Details (Date)@ |
Acura |
Bridge loan |
N/A |
$1 |
The one-year, 10% loan was provided by Essex Woodlands Health Ventures V LP and funds from Care Capital and Galen Partners (6/22) |
Advanced |
Private |
1.8S and 0.36W |
$17.1 |
Shares in the registered direct sale were priced at $9.50 each; warrants are exercisable at $13 per share; investing were affiliates of Great Point Partners LLC and Vivo Ventures LLC, and a company director; the deal closed in two tranches (6/1 and 6/2) |
Aeolus |
Private |
N/A and ND |
$2.5 |
The 6% notes are convertible into shares at $1 per share, as are the five-year warrants that accompanied them; the company has an option to pay the dividend in cash or shares; investors included Xmark Opportunity Funds and Biotechnology Value Fund LP (6/27) |
Auxilium |
Private placement of stock and warrants |
8.2S and 2.06W |
$40.4 |
The shares were sold at about $4.90 each, and the warrants are exercisable at $5.84 per share; Deutsche Bank Securities Inc. was lead placement agent (6/29) |
Bavarian |
Rights issue |
1.16S |
DKK416.7 (US$67.5) |
Among those participating in the fully subscribed rights issue were existing shareholders A.J. Aamund A/S and LD Pensions (6/23) |
BioDelivery |
Convertible debt deal |
N/A |
$2.5 |
Laurus Master Fund Ltd., in a deal very similar to one completed in February with BDSI, bought a three-year, prime-plus-2% note convertible into common stock at $3.10 per share; Laurus also got warrants to purchase up to 483,871 shares at $3.88 per share (6/3) |
Bionomics Ltd. |
Private placement of stock |
44.4S |
A$6 (US$4.6) |
Each share includes two-thirds of an option on an additional share at A$0.22 per full share; Intersuisse Corporate Pty. Ltd. managed the deal (6/27) |
BioTie |
Private placement of stock |
8.77S |
€6.6 (US$8) |
Among investors subscribing in the stock sale were Juha Jouhki, Thominvest Oy, Dreadnought Finance Oy and BioFund Ventures III (6/22) |
Cephalon |
Private placement of convertible notes |
N/A |
$800 |
The 2% senior subordinated notes due 2015 are convertible at $46.70 per common share; the total does not include $120M in notes purchased per the underwriters' overallotment option on July 1; the notes were sold from a shelf registration (6/2) |
CombiMatrix |
Private placement of stock |
1.3S |
$2.9 |
The stock was sold from a shelf registration in a registered direct offering at $2.25 per share (6/30) |
Corautus |
Private placement of stock and loan agreement |
4.7S |
$23 |
Boston Scientific Corp. and a group of private investors are purchasing 4.7M shares for $18M; separately, an amended loan deal with Boston Scientific makes $5M available to Corautus (6/28) |
Critical |
Private placement of stock and warrants |
9.95S and 3.48W |
$54.5 |
Institutional and other accredited investors bought the shares at $5.48 each; the five-year warrants are exercisable at $6.58 per share (6/7) |
Crucell NV |
Private |
3.6S |
€52.2 (US$64) |
Crucell sold the shares at €14.50 each in a private placement; Fortis Bank was the sole manager in the deal (5/10)& |
CV |
Public offering of convertible notes |
N/A |
$130 |
The 3.25% convertible senior subordinated notes due 2013 were sold in a public offering; they are convertible into stock at about $27 per share; underwriters were Lehman Brothers, Merrill Lynch & Co., Citigroup and Deutsche Bank Securities; the total does not include the July 1 purchase of $19.5M in notes per the underwriters' overallotment option (6/29) |
Evotec AG |
Private placement of |
10.46S |
€28.4 (US$34.5) |
Evotec sold the shares in a fully subscribed placement at €2.72 per share (6/24) |
Exelixis Inc. |
Funding vehicle |
N/A |
$40 |
Symphony Capital Partners provided $40M for further development of XL647, XL999 and XL784; it formed Symphony Evolution Inc., which has an option to call an additional $20M to $40M within one year (6/13) |
Galapagos NV |
Warrants exercise |
0.082S |
€0.4 (US$0.5) |
Galapagos placed 82,562 shares in connection with the exercise of warrants, which closed at the same time as it completed its €22M IPO (6/3) |
Generex |
Private placement of convertible notes and warrants |
N/A and 2.44W |
$2 |
Holders of 6%, 15-month notes purchased in 2004 bought another $2M in notes; they initially are convertible into stock at $0.60 per share; investors also got five-year warrants to purchase 2.44M shares at $0.82 each (6/16) |
Helix |
Warrants exchange |
4.95S |
$1.5 |
Warrants for the purchase of about 9.95M shares were properly tendered in the offer, which expired on May 31 (6/1) |
Hollis-Eden |
Private placement of stock and warrants |
1.33S and 0.267W |
$10 |
A single institutional investor purchased the shares at $7.50 each; the four-year warrants are exercisable at $10 per share; Rodman & Renshaw LLC was placement agent (6/1) |
Immunicon |
Private placement of stock |
4.138S |
$19.7 |
The shares were sold from a shelf registration at $4.75 each; Legg Mason Wood Walker Inc. was lead placement agent; First Albany Capital Inc. was co-placement agent (6/30) |
Invitrogen |
Private placement of convertible notes |
N/A |
$350 |
The 3.25% senior convertible notes due 2025 were sold to institutional buyers; the total includes their purchase of $25M in notes per their option; the notes are convertible in some circumstances into cash or stock at an initial price of $98.25 per share (6/14) |
Lev |
Private placement of stock and warrants |
5.04S and 2.52W |
$5.04 |
The securities were sold as units priced at $50,000 each; the five-year warrants are exercisable at $1.35 per share; placement agent Laidlaw & Co. (UK) Ltd. also received 681,044 warrants exercisable at $1.35 per share (6/6) |
Peregrine |
Private placement of stock |
8S |
$6.72 |
The shares were sold from a shelf registration to a single investor (6/23) |
Pharma- |
Private placement of stock and warrants |
3.387S and 9.3W |
$5.08 |
Investors purchased about 3.387M units at $1.50 per unit; each unit comprises one share of common stock and three types of warrants to purchase 2.75 shares at undisclosed prices (6/20) |
Procyon |
Private placement of convertible notes |
N/A |
C$3.5 (US$2.8) |
The five-year, 7% notes are convertible into stock at $0.45 per share; investors also got warrants equal to 50% of the number of shares that could be issued; investors included Desjardins Venture Capital, Fonds Bio-Innovation and Societe Innovatech Quebec et Chaudieres-Appalaches; Dundee Securities Corp. was placement agent (6/30) |
RegeneRx Bio- |
Private placement of stock |
1.538S |
$5 |
Affiliates of Sigma-Tau Group purchased the shares at $3.25; Sigma-Tau owned about 30% of RegeneRx before the deal (6/23) |
Tm Bioscience |
Warrants exercise |
ND |
C$3.8 (US$3.1) |
The warrants were issued in two private placements in 2003; any remaining warrants relating to those financings have now expired (6/29) |
Tripep AB |
Rights issue and warrants placement |
5.08S and 2.54W |
SEK28 (US$3.6) |
Dormant Properties AB underwrote shares not taken up by existing shareholders, and retained its 21% stake; warrants are exercisable at SEK8 and SEK12 per share (6/17) |
Tripep AB |
Private placement of stock |
0.256S |
SEK2.18 (US$0.29) |
A private investor purchased the shares at SEK8.50 each, and agreed to exercise all preference rights on the shares in the upcoming rights issue (6/10) |
Valentis Inc. |
Private placement of stock and warrants |
1.68S and 0.84W |
$4.2 |
The stock and warrants were sold as a unit at $2.50 per unit; the five-year warrants are exercisable at $3.51 per share (6/27) |
Viventia |
Bridge loans |
N/A |
C$4.8(US$3.9) |
Viventia Chairman Leslie Dan provided loans of C$1.5M, C$1.5M and C$1.8 that carry a 4.5% annual interest rate (6/17) |
Xechem |
Sale of minority interest |
N/A |
$2.3 |
Xechem sold most of its interest in CepTor Corp., which it spun off in February; CepTor purchased the shares; Xechem still has 500,000 CepTor shares, or 15% of its original investment (6/29) |
Zeltia SA |
Private placement of stock |
10.75S |
€65 (US$78.5) |
The shares were sold at €6.05 each; proceeds will be used to fund work at subsidiary PharmaMar SA; HSBC Securities was placement agent (6/23) |
| | ||||
Notes: | ||||
This chart does not include real estate or manufacturing plant financings. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
& = Deal occurred in May but was not included in the previous chart. | ||||
Currency conversions are based on exchange rates at the time of the deal. | ||||
N/A = Not applicable; ND = Not disclosed. | ||||
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; HSE = Helsinki Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; SPE = Spanish Stock Exchange; SSE = Stockholm Stock Exchange; TSE = Toronto Stock Exchange. | ||||
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