By Sheri Kasprzak
New York, April 6 - Oscient Pharmaceuticals Corp. has secured agreements for a $34.74 million PIPE.
A group of both institutional and accredited investors agreed to buy 18 million shares at $1.93 apiece.
The deal is scheduled to close April 11.
The investors will also receive warrants for 9 million shares, exercisable for five years at $2.22 each.
Waltham, Mass.-based Oscient is a biopharmaceutical company focused on antibiotic products.
| Issuer: | Oscient Pharmaceuticals Corp.
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| Issue: | Stock
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| Amount: | $34.74 million
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| Shares: | 18 million
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| Price: | $1.93
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| Warrants: | For 9 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.22
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| Announcement date: | April 6
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| Settlement date: | April 11
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| Stock symbol: | Nasdaq: OSCI
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| Stock price: | $1.89 at close April 6
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