Published on 9/16/2009 in the Prospect News PIPE Daily.
New Issue: Helicos BioSciences orchestrates $10 million private placement of units
By Devika Patel
Knoxville, Tenn., Sept. 16 - Helicos BioSciences Corp. said it negotiated a $10 million private placement of units.
The company will sell 1,030,028 units at $2.57 per unit to existing investors and 3,281,252 units to new investors for $2.24 per unit. Each existing investor unit consists of one common share and a warrant for 0.662 shares. Each new investor unit consists of one common share and a half-share warrant.
The whole warrants are exercisable at $2.61 for 66 months.
Thomas Weisel Partners LLC is the agent. Investors include Atlas Ventures, Flagship Ventures, Highland Capital Partners and Versant Ventures.
Settlement is expected on Sept. 18.
Proceeds will be used to support sales and for general corporate purposes.
Helicos develops instruments and reagents for the high-speed sequencing of DNA and RNA with the highest possible sensitivity. The company is based in Cambridge, Mass.
| Issuer: | Helicos BioSciences Corp.
|
| Issue: | Units of one common share and a warrant for 0.662 shares, units of one common share and a half-share warrant
|
| Amount: | $9,997,176.44
|
| Units: | 4,311,280
|
| Warrant expiration: | 66 months
|
| Warrant strike price: | $2.61
|
| Agent: | Thomas Weisel Partners LLC
|
| Investors: | Atlas Ventures, Flagship Ventures, Highland Capital Partners, Versant Ventures
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Nasdaq: HLCS
|
| Stock price: | $2.50 at close Sept. 15
|
| Market capitalization: | $149 million
|
|
|
| Existing investor units
|
| Amount: | $2,647,171.96
|
| Units: | 1,030,028
|
| Price: | $2.57
|
| Warrants: | One warrant for 0.662 shares per unit
|
|
|
| New investor units
|
| Amount: | $7,350,004.48
|
| Units: | 3,281,252
|
| Price: | $2.24
|
| Warrants: | One half-share warrant per unit
|
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