Total: $430.8 |
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Company (Symbol)# | Type Of Financing | Number Of Shares, Units Or Warrants (M) | Amount Raised (M)* | Investors; Placement Agents; Details (Date)@ |
Aastrom Biosciences Inc. (ASTM) | Private placement of common stock | 2.81S | $6 | Aastrom sold 2.81M shares of common stock to a single investor at $2.13 per share; the investor also received a warrant exercisable beginning 6/8/01 if the market price of Aastrom common stock is below $2.135; the warrant will immediately expire if the price of the company's common stock over the next year exceeds $4.27 per share or upon certain change-in-control events (6/12) |
Access Pharmaceuticals Inc. (AMEX: AKC) | Private placement of common stock | 5.6S | $15.3 | Access completed self-managed private placements of 0.758M shares for a total of $3.3M; the company earlier raised $12M in a private placement of 4.8M shares led by Oracle Partners (6/7) |
Amarin Corp. plc (UK; AMRN) | Private placement of ordinary shares | 38.3S | $11.5 | Amarin placed 38.3M shares at $0.30 through Sanders Morris Harris, Corporate Opportunities Fund (an SMH affiliate) and EGS Private Healthcare Partnership LP (6/26) |
Aquasearch Inc. (OTC BB: AQSE) | Equity line | | $10 | Aquasearch secured a $10M equity line from Alpha Venture Capital Inc. (6/19) |
Ariad Pharmaceuticals Inc. (ARIA) | Private placement of common stock under a shelf registration | 0.68S | $8 | Ariad sold 0.68M shares of common stock at $11.75 per share to Acqua Wellington North American Equities Fund Ltd., which agreed to buy up to $75M of Ariad's stock over the next 18 months under a shelf registration filed 6/6/00; the shares may be sold, at Ariad's discretion, at a small discount to market at the time of sale; Lehman Brothers acted as financial adviser to Ariad for both transactions (6/28) |
Aviron (AVIR) | Private placement of common stock under a shelf registration | 0.34S | $8 | Aviron sold 0.34M shares to Acqua Wellington Asset Management LLC for an agregate price of $8M, or $23.53 per share; Acqua also increased its financing commitment to Aviron from $48M to $84M (6/12) |
BioChem Pharma Inc. (Canada; BCHE) | Sale of stake in another company | | C$210 (US$141.4) | BioChem sold Baxter International Inc. (NYSE:BAX) its stake in North American Vaccine (including shares, debenture, line of credit and related interest and premium) for C$210M (US$141.4M), consisting of 1.3M shares of Baxter and C$86M (US$57.9M) (6/27) |
Biotech Holdings (Canada; OTC BB: BIOHF) | Private placement of common stock and warrants | 3S, 3W | C$2.04 (US$1.37) | Biotech Holdings placed 3M common shares at C$0.68 (US$0.46) per share, with 3M common-share purchase warrants at C$0.85 (US$0.59) per share exercisable for 18 months; this transaction would replace private placement of $1.76M announced 4/17; Biotech Holdings has also applied for 2.6M convertible preferred share purchase warrants at C$0.85 (US$0.59) per share to be granted to four companies that have loaned Biotech Holdings a total of $2.2M; warrants would be granted for extensions of loan repayment (6/2) |
Boston Life Sciences Inc. (BLSI) | Private placement of common stock | 1.25S | $10 | Boston Life executed a direct private placement of $10M in common stock with the Pictet Global Sector Fund-Biotech (6/2) |
Connetics Corp. (CNCT) | Private placement of common stock | 2S | $20 | Connetics sold 2M shares at $10 each to existing and new investors (6/21) |
EntreMed Inc. (ENMD) | Exercise of warrants | 0.43S | $11 | Warrant holders exercised options under 7/99 financing and purchased 0.43M shares for a total of $11M (6/6) |
EntreMed Inc. (ENMD) | Sale of shares under shelf registration | 1S | $22 | EntreMed priced an offering under a shelf registration filed 1/00 at $22 per share, raising $22M ($20.6M net); the offering was underwritten by Banc of America Securities LLC (6/14) |
Genset SA (France; GENXY) | Private placement of convertible bonds | | EUR55.6 (US$52.9) | Genset raised EUR49M (US$46.7M) through an offering of bonds (6/7), plus additional funding through the exercise of the overallotment option (6/27); the annual gross yield to maturity is 4.5%; the nominal price per bond, E94 (US$0.88), was set at a 17.5% premium to Genset's share price at the time of the pricing; the bonds, which were issued at par, are exchangeable 1-for-1 for new or existing Genset shares; SG Cowen underwrote the offering (6/27) |
Geron Corp. (GERN) | Private placement of convertible debentures | | $25 | Geron sold $25M in zero-coupon debentures to an existing institutional investor; debentures are convertible into Geron common stock at $29.95 per share; the investor also received warrants to purchase up to 0.83M shares of Geron common stock at a premium to the conversion price (6/29) |
Hemosol Inc. (Canada; TSE:HML) | Exercise of overallotment option in bought deal financing | 0.16S | C$3 (US$2.03) | Hemosol raised an additional C$3M (US$2.03M) through the exercise of overallotment option for 0.16M shares at $19 (US$12.86) per share under 4/00 financing (6/7) |
IGT Pharma Inc. (Canada; VSE:IGT) | Private placement of special warrants | 5W | C$6 (US$4.06) | IGT sold 5M special warrants at C$1.25 (US$0.85) for proceeds of C$6M (US$4.06M); Dominick and Dominick Securities Inc. served as lead underwriters (6/5) |
ImmuLogic Pharmaceutical Corp. (OTC BB: IMUL) | Sale of shares in another company | 1.37S | $8.83 | ImmuLogic converted 0.433M American depositary shares of Cantab Pharmaceuticals plc (LSE:CTB) into 1.3M ordinary shares, sold on the open market for about $7.215M; ImmuLogic sold an additional 0.07M ADSs to a private buyer in the U.S. (6/12) |
Inflazyme Pharmaceuticals Ltd (Canada; TSE:IZP) | Private placement of common stock | 3.88S | C$12 (US$8.12) | Inflazyme closed an unbrokered private placement with International Biotechnology Trust plc, a fund managed by Rothschild Asset Management (UK); IBT purchased 3.88M shares at C$3.09 (US$2.09) each for net proceeds of C$12M (US$8.12M) (6/5) |
International Isotopes Inc. (INIS) | Private placement of convertible preferred stock | | $10 | International Isotopes raised $10M through issuance of non-voting, redeemable, convertible preferred common stock; stock has a 7% coupon and includes warrants for 2.5M shares of common stock (6/20) |
Ligand Pharmaceuticals Inc. (LGND) | Exercise of warrants to buy common stock | 1.08S | $7.7 | Approximately 98% of 1.1M outstanding warrants were exercised at $7.12 per share of common stock; warrants were issued in conjunction with a 1995 public offering (6/7) |
Neurogen Corp. (NRGN) | Private placement of common stock | 1.64 | $41 | Neurogen sold 1.638M shares of common stock at $25 per share, raising $41M; Pacific Growth Equities acted as placement agent (6/28) |
Paracelsian Inc. (PRLN) | Conversion of debt to equity | 0.94S | $0.5 | BioSignia Inc. agreed to convert $0.5M worth of debt into additional equity of Paracelsian; at $0.5312 per share (the closing price on the date of the announcement), the deal would cover 0.94M shares (6/20) |
Senesco Technologies Inc. (OTC BB: SENO) | Private placement of common stock | 1.47S | $2.2 | Senesco raised $2.2M in a private placement led by Fahnestock & Co. Inc., which purchased 1.47M shares at $1.50 each (6/15) |
StressGen Biotechnologies |
Exercise of warrants | 1.74S | C$5.75 (US$3.9) | StressGen received C$5.75M (US$3.9M) from the exercise of warrants for 1.74M common shares at C$3.30 (US$2.47) (6/13) |
Techniclone (TCLN) | Equity line Corp. | | | Techniclone signed an amendment to 6/98 equity line agreement allowing the company to draw up to $2.8M per month subject to minimum share prices; at a price of $4 per share, the company could draw up to $27M (6/7) |
Notes: |
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# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
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* Non-U.S. currencies converted at the exchange rate on the date of the announcement. |
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@ Dates refer to the date of the press release. |
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ASX = Australian Stock Exchange |
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LSE = London Stock Exchange |
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TSE = Toronto Stock Exchange |
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VSE = Vancouver Stock Exchange |
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OTC BB = Over The Counter Bulletin Board |