By Devika Patel
Knoxville, Tenn., Sept. 10 - Geron Corp. will take in approximately $3.6 million in a direct placement of stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 550,000 common shares. The investors also will receive warrants, exercisable for 150,000 shares at $9.00 until Sept. 9, 2014.
Proceeds will fund an equity contribution to ViaGen, Inc., in which Geron holds a 27% ownership interest.
Geron, based in Menlo Park, Calif., develops therapeutic treatments for cancer, degenerative diseases and chronic diseases.
| Issuer: | Geron Corp.
|
| Issue: | Common stock
|
| Amount: | $3.6 million (approximate)
|
| Shares: | 550,000
|
| Warrants: | For 150,000 shares
|
| Warrant expiration: | Sept. 9, 2014
|
| Warrant strike price: | $9.00
|
| Pricing date: | Sept. 10
|
| Stock symbol: | Nasdaq: GERN
|
| Stock price: | $7.37 at close Sept. 9
|
| Market capitalization: | $672 million
|
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