Company | Type Of | Number Of | Amount | Investors; Placement Agents; | |||||
(Symbol) | Financing | Shares, Units | Raised (M) | Details (Date) | |||||
Or Warrants (M) | |||||||||
Abaxis Inc. (ABAX) | Private | ND | $4 | Abaxis raised $4M through the sale of convert- | |||||
placement | ible preferred stock to a current investor and a | ||||||||
new investor group; the stock can be converted | |||||||||
into common shares at $2.50 per share; the com- | |||||||||
pany will register the shares for resale (11/18) | |||||||||
Algos | Private | 1.0S | $25 | Algos raised $25M in a placement of 1M newly issued | |||||
Pharmaceutical | placement | shares with Biotech Target SA (a subsidiary of BB | |||||||
Corp. (ALGO) | Biotech AG); Biotech Target also received a 4-year | ||||||||
warrant to buy 0.25M shares of common stock at $25 | |||||||||
per share; Algos will register the stock for resale (11/10) | |||||||||
Ariad | Private | 0.005S | $5 | Ariad sold 5,000 shares of Series C convertible pre- | |||||
Pharmaceuticals | placement | ferred stock for $5M to a group of institutional | |||||||
Inc. (ARIA) | investors; each share of Series C stock has a stated | ||||||||
value of $1,000, accrues 5% interest annually and is | |||||||||
convertible into common stock 3 months after clos- | |||||||||
ing at a price equal to the lower of a variable con- | |||||||||
version price or a maximum conversion price; the | |||||||||
company will register the shares for resale; Promethe- | |||||||||
an Investment Group LLC acted as an advisor (11/12) | |||||||||
Cell Genesys Inc. | Sale of | 1.1S | $9.5 | Cell Genesys sold 1.1M shares of stock it held in its | |||||
(CEGE) | Abgenix Inc. | subsidiary Abgenix Inc. to Zesiger Capital Group | |||||||
stock | LLC; Cell Genesys now owns 30% of Abgenix; | ||||||||
Abgenix will register the shares, which are subject | |||||||||
to lockup provisions; BancBoston Robertson | |||||||||
Stephens Inc. acted as the placement agent (11/20) | |||||||||
Connetics Corp. | Private | 3.14S | $12.6 | Connetics sold 3.14M shares of unregistered com- | |||||
(CNCT) | placement | mon stock at $4.01 each to new and existing inves- | |||||||
tors, including several of the company's directors; | |||||||||
the company self-managed the placement (11/23) | |||||||||
Genetronics | Exercise of | 0.2W | $0.6 | Genetronics received US$0.61M through the exer- | |||||
Biomedical Ltd. | warrants | cise of 0.2M warrants at US$3.05 each; Canaccord | |||||||
(TSE:GEB) | Capital Corp. and Index Securities each exercised | ||||||||
warrants for 0.1M shares; the warrants were issued | |||||||||
4/97 (prices converted at a rate of C$1.55/US$1) (11/20) | |||||||||
North American | Convertible | — | $25 | The company sold $25M of 4.5% convertible | |||||
Vaccine Inc. (NVX) | secured notes | secured notes due 11/13/03; the notes are con- | |||||||
vertible into common stock at $8.54 per share; | |||||||||
the notes were issued to certain existing share- | |||||||||
holders, affiliates and other investors, including | |||||||||
BioChem Pharma Inc. (which had owned a 36% | |||||||||
stake in the company) and company director | |||||||||
Phillip Frost (who owned a 17% stake) (11/13) | |||||||||
Phytopharm plc | Private | 1.56S | $3.6 | Phytopharm sold 1.56M shares at $2.308 to | |||||
(LSE:PYM; U.K.) | placement | institutional investors; the company registered | |||||||
the shares for resale; WestLB Panmure Ltd. | |||||||||
acted as the placement agent (prices converted | |||||||||
at a rate of £0.61/US$1) (11/16) | |||||||||
PPL Therapeutics | Rights | 27.1 | $34.2 | The company raised $34.2M through a 6 for 5 | |||||
plc (LSE:PTH; U.K.) | offering | rights offering; it issued 27.1M new shares at | |||||||
$1.26 each; BT Alex Brown International acted | |||||||||
as the underwriter (prices converted at a rate of | |||||||||
£0.60/US$1) (11/11) | |||||||||
Shaman | Private | 4.8S | $7.2 | Shaman sold 4.8M shares at $1.50 each to insti- | |||||
Pharmaceuticals | placement | tutional and individual investors, including | |||||||
Inc. (SHMN) | Vulcan Ventures, Monte Vista Management Co., | ||||||||
the Odyssey Fund at Rockefeller & Co. and | |||||||||
Kathleen Scutchfield; in conjunction with the | |||||||||
offering, Shaman has committed a royalty for | |||||||||
charitable use within the HIV/AIDS community; | |||||||||
the 3.6% royalty will be based on future U.S. net | |||||||||
sales of its AIDS diarrhea investigative drug | |||||||||
Provir (11/19) | |||||||||
SuperGen Inc. | Equity line | $36 | SuperGen secured a $36M common stock equity | ||||||
(SUPG) | line with an international bank; the company | ||||||||
will get cash in exchange for common stock at | |||||||||
upward escalating threshold prices (determined | |||||||||
by the quarterly average) over a period of 2 years | |||||||||
(11/24) | |||||||||
Therapeutic | Private | 28.7S | $19.5 | The company raised a total of $19.5M in a | |||||
Antibodies Inc. | placement; | multi-part refinancing which involved the | |||||||
(LSE:TAB) | conversions | issue of 28.9M new shares altogether; the com- | |||||||
of loan notes | pany sold 21.3M shares at $0.60 each to | ||||||||
and preferred | institutional investors (for $14.5M); it also | ||||||||
stock | converted $2.9M in loan notes and $2M of | ||||||||
Series A preferred stock into a total of 7.4M | |||||||||
shares; the placement was underwritten by | |||||||||
Panmure Gordon & Co. Ltd. (prices converted | |||||||||
at a rate of £0.59/US$1) (11/6) | |||||||||
TOTAL: $182.2M | |||||||||
NOTES: | |||||||||
LSE = London Stock Exchange; ND = Not disclosed, reported and/or available; S = Shares; TSE = Toronto Stock Exchange; U = Units; W = Warrants | The financings in this chart include loans, bridge financings and other interim measures as well as sales of business units, debt offerings, rights offerings, exercises of warrants, institutional offerings of registered stock and standard private placements. |