New York, July 31 - Antigenics Inc. said it was agreed to raise $10 million through a private placement of stock and warrants.
The company will sell 5 million shares at $2.00 per share. Investors will also receive warrants for 2.5 million shares exercisable for six months at $2.00 per share and warrants for 2.2 million shares exercisable for four years at $2.30 per share.
Rodman & Renshaw, LLC is placement agent.
Proceeds will be used to fund commercial and regulatory efforts, including supporting Antigenics' efforts with Oncophage (vitespen) in Russia, Europe and other territories.
Antigenics is a Lexington, Mass., biotechnology company.
| Issuer: | Antigenics Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 5 million
|
| Price: | $2.00
|
| Warrants: | For 2.5 million shares and 2.2 million shares
|
| Warrant strike price: | $2.00 (2.5 million warrants) and $2.30 (2.2 million warrants)
|
| Warrant expiration: | Six months (2.5 million warrants) and four years (2.2 million warrants)
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | July 31
|
| Settlement: | August 3
|
| Stock symbol: | Nasdaq: AGEN
|
| Stock price: | $2.38 at close on July 30
|
| Market capitalization: | $151 million
|
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