H.C. Wainwright helps fund clinical development and corporate purposes
By Devika Patel
Knoxville, Tenn., March 20 – Oxigene Inc. negotiated a $10 million registered offering of units on March 20, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell units of one common share and one half-share warrant at $1.7125 per unit on a reasonable, best-efforts basis.
The whole warrants are each exercisable at $1.7125 for five years. The strike price is a 3.79% premium to the March 19 closing share price of $1.65.
H.C. Wainwright & Co. is the agent.
Proceeds will be used for clinical development and general corporate purposes.
Oxigene is a pharmaceutical company in South San Francisco, Calif.
| Issuer: | Oxigene Inc.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | $10 million
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| Price: | $1.7125
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.7125
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| Agent: | H.C. Wainwright & Co.
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Stock symbol: | Nasdaq: OXGN
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| Stock price: | $1.65 at close March 19
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| Market capitalization: | $33.81 million
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