By Devika Patel
Knoxville, Tenn., Aug. 4 - Antigenics Inc. said it plans another $10 million private placement of shares. As previously reported, the company raised $10 million in a financing on Thursday.
The company will sell approximately 4.4 million shares at $2.28 apiece. Investors also will receive six-month warrants for approximately 2.2 million common shares, exercisable at $2.31, and four-year warrants for approximately 2 million additional shares, exercisable at $2.50.
Rodman & Renshaw, LLC is the agent.
Proceeds will be used primarily for funding key commercial and regulatory efforts.
Antigenics is a New York-based biotechnology company with a focus on cancers and infectious diseases.
Issuer: | Antigenics Inc.
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Issue: | Common shares
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Amount: | $10 million
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Shares: | 4.4 million (approximate)
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Price: | $2.28
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Warrants: | For approximately 4.2 million shares
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Warrant expiration: | Four years (for approximately 2 million shares), six months (for approximately 2.2 million shares)
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Warrant strike price: | $2.50 (for approximately 2 million shares), $2.31 (for approximately 2.2 million shares)
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Agent: | Rodman & Renshaw, LLC
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Pricing date: | Aug. 4
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Stock symbol: | Nasdaq: AGEN
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Stock price: | $2.58 at close Aug. 3
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Market capitalization: | $176 million
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