Published on 7/6/2015 in the Prospect News PIPE Daily.
GenSpera to raise $2.5 million through private placement of shares
Company sells 3,571,430 shares at $0.70 apiece, two types of warrants
By Devika Patel
Knoxville, Tenn., July 6 – GenSpera, Inc. said it plans a $2.5 million private placement of stock. H.C. Wainwright & Co. is the agent.
The company will sell 3,571,430 common shares at $0.70 apiece, a 15.66% discount to the July 2 closing share price of $0.83.
Investors also will receive warrants for 7,142,860 shares. Of the warrants, 3,571,430 are exercisable at $0.80 for five years and 3,571,430 are exercisable at $0.70 for 18 months. The strike prices are 3.62% and 15.66% discounts to the July 2 closing price.
Settlement is expected July 9.
GenSpera is a San Antonio-based pharmaceutical company focused on the discovery and development of pro-drug cancer therapeutics.
| Issuer: | GenSpera, Inc.
|
| Issue: | Common shares
|
| Amount: | $2.5 million
|
| Shares: | 3,571,430
|
| Price: | $0.70
|
| Warrants: | For 7,142,860 shares
|
| Warrant expiration: | Five years (for 3,571,430 shares), 18 months (for 3,571,430 shares)
|
| Warrant strike prices: | $0.80 (for 3,571,430 shares), $0.70 (for 3,571,430 shares)
|
| Agent: | H.C. Wainwright & Co.
|
| Pricing date: | July 6
|
| Settlement date: | July 9
|
| Stock symbol: | OTCBB: GNSZ
|
| Stock price: | $0.83 at close July 2
|
| Market capitalization: | $26.84 million
|
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