Total: $309.18M | ||||
Company |
Type Of |
Number Of |
Amount |
Investors; Placement Agents; Details (Date)@ |
| | ||||
Acadia |
Private placement of stock and warrants |
5.3S and 1.3W |
$36 |
New and existing institutional investors are purchasing shares at about $6.82 each; the warrants are exercisable at $8.148 per share (4/15) |
Access |
Private placement of convertible notes |
N/A |
$2.6 |
The debentures are convertible into common stock at $4 per share; separately, Cornell Capital committed to provide up to $15M that Access can draw down through stock sales for two years (4/4) |
Advancis |
Private placement of stock and warrrants |
6.8S and 2.4W |
$27.25 |
The shares were priced at $3.98 each; the five-year warrants are exercisable at $4.78 per share; the financing syndicate included Omega Fund, HealthCare Ventures and Rho Ventures, which together purchased 5.8M shares (4/26) |
Avanir |
Private placement of stock |
7.77S |
$17.1 |
Avanir sold the Class A shares from a shelf registration at $2.20 each; CIBC World Markets Corp. was placement agent and Leerink Swann & Co. was co-placement agent (4/6) |
AVAX |
Private placement of stock and warrants |
25.24S and 7.57W |
$8.58 |
The shares were sold at $0.34 each; half the warrants are convertible into stock at $0.41 per share and half at $0.48; investors included Credit Suisse Equity Global Biotech Fund, BSI New Biomedical Frontier Fund and JFE Hottinger & Co.; Privateq Advisors acted as an adviser in the deal (4/6) |
Biotech |
Private placement of stock and warrants |
2.02S and 2.02W |
$0.5 |
Pierpoint Investissements SA is purchasing 1.01M shares at $0.2475 each, and another 1.01M shares from the company's president, who in turn will invest that $0.25M in the company; the warrants are exercisable at $0.33 per share (4/12) |
Emisphere |
Private placement of stock and warrants |
4S and 1.5W |
$15.74 |
Emisphere sold the shares from a shelf registration; the warrants are exercisable at $4 per share; Harris Nesbitt Corp. was placement agent (4/1) |
Genaissance |
Private loan and warrants placement |
N/A |
$4.5 |
Xmark Funds and affiliates are providing the two- year, 5% loan; they also got warrants to purchase 2M shares of Genaissance stock at $2.25 per share (4/22) |
Geron Corp. |
Private placement of stock and warrants |
0.741S and 0.37W |
$4 |
Geron sold the shares from a shelf registration at $5.40 each, along with warrants to purchase 370,000 shares at a premium; the deal was made with investors from Hong Kong (4/25) |
Hana |
Private placement of stock and warrants |
3.78S and 1.13W |
$4.83 |
Investors included Pogue Capital Management, Xmark Capital Partners, Mosiax Ventures, Atlas Equity, Coqui Capital and Emerging Technology Partners; Griffin Securities Inc. was lead placement agent (4/26) |
Immunomedics |
Private placement of convertible notes and warrants |
N/A and ND |
$37.68 |
The 5% convertible notes due 2008 initially are convertible into common stock at $2.62 per share; the three-year warrants are exercisable at $2.98 per share; investors have a 120-day option to buy up to 20% more of the notes and warrants; Lazard Freres & Co. LLC was lead placement agent; C.E. Unterberg, Towbin was co-placement agent (4/27) |
Lorus |
Private placement of convertible notes |
N/A |
C$5 (US$4) |
TEMIC made a C$5M investment in the third and final tranche of a C$15M deal; the notes are convertible into common stock at C$1 per share (4/18) |
Mologen AG |
Private placement of stock |
0.6S |
€2.19 (US$2.8) |
The shares were sold at €3.65 each to institutional investors from German-speaking countries (4/22) |
Nabi Bipharmaceuticals |
Private placement of convertible notes |
N/A |
$100 |
The 2.875% senior notes due 2025 are convertible into common stock at $14.32 per share, a 30% premium; purchasers have an option to buy another $20M in notes (4/14) |
Protein Polymer |
Private placement of stock and warrants |
23.59S and 11.79W |
$7.75 |
The stock was priced at $0.33 per share; the four-year warrants are exercisable at $0.50 per share; Luther Capital Management LLC and Palladium Capital Advisors LLC assisted in the deal, which was made in two closings (4/1 and 4/18) |
Proteome |
Private placement of stock |
8.09S |
£4.7 (US$8.8) |
Shares representing 6.6% of the company were placed with an institutional investor at 59.5 pence each (4/1) |
Provectus |
Private placement of convertible debentures and warrants |
N/A and 4.2W |
$3.15 |
Investors led by Network 1 Financial Securities Inc. and DC Opportunity Fund Ltd. can convert the debt into stock at $0.75 per share; they also got five-year warrants to buy 4.2M shares at $1.06 per share (4/3) |
Solexa |
Private placement of stock and warrants |
2.1S and 1.1W |
$8.4 |
A second closing on the same terms bringing the total financing to $32.5M is expected later in 2005; the shares were sold at $4 each and the warrants are exercisable at $5 per share; the financing was led by ValueAct Capital (4/22) |
Unigene |
Private placement of stock and warrants |
2.123S and 1.062W |
$3 |
Fusion Capital Fund II LLC purchased the shares and the five-year warrant exercisable at $1.77 per share; following the deal Unigene terminated the stock purchase agreement with Fusion (4/13) |
ViroPharma |
Private placement of convertible notes |
N/A |
$12.5 |
Investors in an October 2004 deal exercised their option to buy another $12.5M in 6% notes due in October 2009; they are convertible into common stock at $2.50 per share; the sale totaled $75M (4/6) |
| | ||||
Notes: | ||||
This chart does not include real estate or manufacturing plant financings. | ||||
# 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. | ||||
AMEX = American Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange. | ||||
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