Company Type Of Number Of Amount Investors; Placement Agents;
(Symbol) Financing Shares, Units Raised (M) Details (Date)
Or Warrants (M)
Access Private 0.95S $2.9 Access raised $2.9M in the 1st closing of a
Pharmaceuticals placement private placement of $7.8M total; the com-
Inc. (OTC Bulletin pany sold 0.95M shares of unregistered
Board:AXCS) common stock at $3.053 each to undis-
closed investors; the company will register
the stock for resale; Sunrise Securities
Corp. acted as the placement agent (6/18)
CoCensys Inc. Private ND $8 CoCensys placed $8M in convertible pre-
(COCN) placement ferred stock, which carries a 7.5% annual
dividend; the shares are convertible for 3
years into common stock at a price based in
part on market value at the time of conver-
sion but not to exceed $3.93 per share;
the holders also get warrants to buy 0.35M
shares of common stock at $4.50 each and
additional warrants to buy 0.1M shares if
the investors hold a specified amount of
preferred stock for at least 5 months after
purchase; CoCensys may sell an additional
$2M of convertible preferred stock at a
later date (6/9)
Demeter Private ND $2 Demeter placed $2M in convertible pre-
BioTechnologies placement ferred stock with the CEO Venture Fund III
Ltd. (OTC Bulletin (6/18)
Board:DBOT)
Genelabs Sale of shares 8.5S $4.3 Genelabs received $4.3M from the sale of
Technologies Inc. in affiliate some of the shares in its Taiwan affiliate,
(GNLB) Genelabs Biotechnology Co. Ltd., to a
single investor, Long Bon Development
Co.; Genelabs sold 8.48M shares at $0.507
each; it still holds a 16% stake in the affil-
iate (prices converted at a rate of NT34.55/
US$1) (6/10)
Genzyme Tissue Long-term — $66 Genzyme Corp. has committed up to $66M
Repair (GENZL) financing to its subsidiary Genzyme Tissue Repair;
Genzyme has increased the equity line of
credit available to Genzyme Tissue from
$12M to $50M, which the latter may draw
down as needed on a quarterly basis in
exchange for stock; Genzyme also will buy
Genzyme Tissue's manufacturing facility
for $16M in cash; Genzyme Tissue will
lease back part of the facility (6/9)
Inflazyme Private 7U $4.1 Inflazyme raised US$4.1M from current
Pharmaceuticals placement and new investors Biotechnology Invest-
Ltd. (VSE:IZP; Canada) ments Ltd., The Goldman Sachs Group LP,
Royal Bank Capital Corp. and Royal Trust
Corp. of Canada; the company sold 7.02M
units at US$0.582 each; each unit consists
of 1 common share and 1/5 common share
purchase warrant; each whole warrant can
be used to buy 1 share for US$0.776 before
12/25/01; Biotechnology Investments' pur-
chase gives it a 16.5% stake in Inflazyme;
the investors must hold the shares and war-
rants for 1 year before trading (prices con-
verted at a rate of C$1.47/US$1) (6/26)
Oncor Inc. (ONC) Line of — $1 Oncor raised $1M through 2 cash infusions
credit from certain of its directors and a major
shareholder of the company, which provi-
ded credit support expanding Oncor's exist-
ing bank line of credit (6/23)
Shaman Equity ND $7 A group of Shaman's existing investors will
Pharmaceuticals financing buy up to $7M of 5.5% convertible prefer-
Inc. (SHMN) facility red stock over a 9-month period if Shaman
elects to use this financing facility; the
investors, led by Delta Opportunity Fund
Ltd., will get warrants to buy shares at a
15% premium to market over the next 3
months; Diaz Altschul Capital LLC acted
as the placement agent (6/11)
Techniclone Corp. Line of ND $20 Techniclone set up a $20M equity-based
(TCLN) credit line of credit with 2 institutional investors;
the company gets $3.5M immediately in
exchange for 2.33M shares at $1.50 each
(current market value); the remainder of the
potential financing is available through
6/01 but Techniclone is not required to
draw down those funds; future stock issued
under the line of credit will be sold at a 15%
discount to market price (6/16)
Theratechnologies Private 0.38U $1.2 Theratechnologies sold 0.375M units at
Inc. (MSE:TH; Canada) placement US$3.10/each primarily to institutional
investors; this was to satisfy the overallot-
option from the company's private place-
ment in 5/98; each unit consists of 1 com-
mon share and 0.5 purchase warrant; 1 war-
rant can be used to buy 1 share common
stock for US$3.45 until 11/30/99; the com-
pany will register the underlying shares for
resale; Levesque Beaubien Geoffrion was
the lead underwriter (prices converted at a
rate of C$1.45/US$1) (6/11)
Unigene Private — $4 Unigene received $4M of an $8M private
Laboratories Inc. placement placement of its stock with a worldwide
(UGNE) equity fund (not disclosed); Unigene sold
debentures with a 5% coupon that can be
converted into common stock after 6
months; beginning 1/1/99, 15%-20% of the
debentures are convertible into common
stock each month at a conversion price that
depends on market value; on conversion
the holder also gets share purchase war-
rants (6/30)
Xoma Corp. (XOMA) Private — $12.5 Xoma drew down the remaining $12.5M of
placement a $25M financing arranged in 8/97; the
company sold $12.5M in 5% convertible
preferred stock to an affiliate of Credit
Suisse First Boston, Southbrook Internat-
ional Investments Ltd. and HBK Invest-
ments LP; conversions to common stock
will be based on market price of Xoma
common stock at the time; there is no initial
discount, but 2% will be added for each
month the stock is held, up to 12% maxi-
mum; the investors also get 3-year war-
rants to buy 0.55M shares of common
stock at $7 each; Shipley Raidy Capital
Partners LP acted as the placement agent
(6/29)
TOTAL: $133.0M
NOTES:
MSE = Montreal Stock Exchange; ND = Not disclosed, reported and/or available; S = Shares; U = Units; VSE = Vancouver Stock Exchange;
W = Warrants
The financings in this chart include loans, bridge financings and other interim measures as well as sale of business units, debt offerings, rights offerings, exercise of warrants, institutional offerings of registered stock and standard private placements.