Company Type Of Number Of Amount Investors; Placement Agents;
(Symbol) Financing Shares, Units Raised (M) Details (Date)
Or Warrants (M)
Alliance Private 0.1S $6 Alliance sold 0.1M shares of convertible,
Pharmaceutical placement redeemable preferred stock at $60 each to
Corp. (ALLP) 3 institutional investors led by Brown
Simpson Asset Management; the preferred
shares are convertible into common stock
at $6 per share through 1/3/99 and there-
after at a price adjusted to market price; no
dividends will accrue; CIBC Oppenheimer
and Solomon Smith Barney advised the
company in the transaction (8/17)
HemaSure Inc. Revolving $5 HemaSure received a commitment from a
(OTC Bulletin line of credit commercial bank for a $5M revolving line
Board:HMSR) of credit; $3M will be available on signing,
with the rest available based on develop-
ment milestones; the line of credit will
expire in 6/00; Sepracor Inc., the company's
largest shareholder, will guarantee the re-
payment in exchange for the right to buy up
to 1.7M shares of HemaSure at $0.69 per
share (8/14)
Medarex Inc. Rights offer- 3.7S $25.1 The Bay City Capital Fund I LP and vari-
ing to former ous Pritzker family business interests
shareholders (together, BCC Acquisition I LLC) bought
of GenPharm the rights of former GenPharm International
International Inc. shareholders to receive $25.1M shares
of Medarex common stock; the investors
exchanged these rights for 3.72M shares of
Medarex stock and warrants to purchase
0.45M shares at $10 each over 7 years;
once the warrants are exercised, BCC
Acquisition will hold a 15.8% stake
in Medarex (8/5)
Paracelsian Inc. Exercise of ND $0.5 Biomar International Inc., which received
(PRLN) warrants warrants as part of its 1/98 investment in
Paracelsian, exercised those for $0.52M in
common stock (8/12)
Shaman Product 0.14S $14 Shaman sold 0.14M shares of registered,
Pharmaceuticals royalty-based Series C convertible preferred stock at
Inc. (SHMN) offering of $100 per share in a public offering; the
preferred stock stock entitles the holders to the greater of
a $10/year dividend, payable semi-annually
in common stock, or a pro rata share of
royalties on the company's net U.S. sales
of Provir; Dakin Securities Corp. acted as
the placement agent (8/19)
Synsorb Biotech Inc. Financing $7.2 Synsorb arranged 2 separate financing
(TSE:SYB; NASDAQ: facilities facilities; it arranged a US$3.3M agreement
SYBBF; Canada) with the Canadian Bank of Commerce on
8/20; this financing has a 5-year term and
Synsorb pays interest until 2000; in the
2nd agreement, reached on 8/25, the com-
pany secured a US$3.9M, 3-year financing
agreement with Finova Capital Corp.
(8/20; 8/25)
Techniclone Corp. Exercise of 3.76S $2.2 Holders of warrants issued in conjunction
(TCLN) warrants with Techniclone's Class C preferred stock
financing exercised warrants for 3.76M
shares, 3.42M of them for cash and the rest
converted on a cashless basis (8/7)
TOTAL: $60.0M
ND = Not disclosed, reported and/or available; S = Shares; U = Units; TSE = Toronto Stock Exchange; 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.