By Sheri Kasprzak
Atlanta, April 25 - Geron Corp. said it has closed a direct placement of stock for about $4 million.
The company sold 741,000 shares at $5.40 each to investors in Hong Kong. The investors also received warrants for 370,000 shares, exercisable at $5.40 each for five years.
The shares involved in the offering were sold under Geron's shelf registration.
The company conducted the direct placement to meet commitments to TA Therapeutics Ltd., a company Geron has half ownership of with Biotechnology Research Corp.
Based in Menlo Park, Calif., Geron is a biopharmaceutical company that develops therapeutic products for oncology, pharmaceuticals to treat tissues affected by senescence, injury or degenerative diseases, and cell-based therapies derived from human embryonic stem cells.
| Issuer: | Geron Corp.
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| Issue: | Stock
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| Amount: | $4 million
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| Shares: | 741,000
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| Price: | $5.40
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| Warrants: | For 370,000 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $5.40
|
| Settlement date: | April 25
|
| Stock price: | $6.32 at close April 22
|
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