By Sheri Kasprzak
New York, June 22 - Targeted Genetics Corp. received agreements for a $19,463,500 private placement.
A group of institutional and accredited investors plans to buy 6.7 million shares at $2.905 each.
The investors also will receive warrants for 6.7 million shares, exercisable at $3.25 each.
Rodman & Renshaw, LLC was the placement agent.
Proceeds will be used for working capital.
Based in Seattle, Targeted Genetics is a biotechnology company focused on molecular therapies for acquired and inherited diseases.
| Issuer: | Targeted Genetics Corp.
|
| Issue: | Stock
|
| Amount: | $19,463,500
|
| Shares: | 6.7 million
|
| Price: | $2.905
|
| Warrants: | For 6.7 million shares
|
| Warrant strike price: | $3.25
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | June 22
|
| Stock symbol: | Nasdaq: TGEN
|
| Stock price: | $2.78 at close June 21
|
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