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
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
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.