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Geron greenshoe fully exercised, augmenting stock sale to $62.1 million
By Jennifer Chiou
New York, Sept. 20 - Geron Corp. announced the underwriters exercised in full their 900,000-share greenshoe, raising the size of its follow-on stock offering by $8.1 million to $62.1 million.
Geron priced the offering of 6 million shares at $9.00 apiece after the market close on Sept. 15.
UBS Investment Bank is the bookrunning manager. SG Cowen & Co., LLC, Needham & Co. LLC, Lazard Capital Markets LLC, Rodman & Renshaw, LLC and WBB Securities, LLC are co-managers.
The Menlo Park, Calif., biopharmaceutical company develops anti-cancer therapies that target the enzyme telomerase.
It will use proceeds for research and development, including clinical trials for its drug candidates, and working capital as well as general corporate purposes.
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