New Issue: Oxigene orchestrates $10 million direct offering of common share units

By Devika Patel

Knoxville, Tenn., July 15 - Oxigene Inc. plans to raise $10 million in a registered direct offering of units, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.

The company will sell 6.25 million shares at $1.60 apiece. Investors also will receive series 1 warrants for 2,812,500 shares and series 2 warrants for 2,812,500 shares.

The shares and warrants will be sold in units, with each unit consisting of one share, a five-year series 1 warrant to purchase 0.45 shares at $2.10 per share and a short-term series 2 warrant to purchase 0.45 shares at $1.60 per share.

Settlement is expected July 20.

Lazard Capital Markets LLC is the lead agent. Merriman Curhan Ford is the co-placement agent.

Oxigene is a pharmaceutical company located in Waltham, Mass.

Issuer:	Oxigene Inc.
Issue:	Units of one common share and two warrants for 0.45 shares
Amount:	$10 million
Units:	6.25 million
Price:	$1.60
Warrants:	For 5,625,000 shares
Warrant expiration:	Five years (for 2,812,500 shares), short-term (for 2,812,500 shares)
Warrant strike price:	$2.10 (for 2,812,500 shares), $1.60 (for 2,812,500 shares)
Agent:	Lazard Capital Markets LLC (lead), Merriman Curhan Ford (co-placement agent)
Pricing date:	July 15
Settlement date:	July 20
Stock symbol:	Nasdaq: OXGN
Stock price:	$1.98 at close July 14
Market capitalization:	$73.4 million

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