By Sheri Kasprzak
New York, May 3 - Ziopharm Oncology, Inc. settled a $36,999,515 stock offering.
The company issued 7,991,256 shares at $4.63 each to a group of investors including ProQuest Investments; L BI Group, Inc. (an affiliate of Lehman Brothers); Emerging Technology Partners; Knott Partners; Panacea Asset Management LLC; Cycad Group; Henderson Global Investors; and Medical Biohealth Trends and VCH Expert Biotechs, both funds advised by Medical Strategy.
The investors received warrants for 2.4 million shares, exercisable at $5.56 each for five years.
Paramount BioCapital, Inc. and Griffin Securities, Inc. were the placement agents.
Proceeds from the deal will be used to advance the clinical development of the company's ZIO-101 and ZIO-201 products and phase 1 and 2 trials.
New York-based Ziopharm develops a portfolio of products used to treat cancer.
| Issuer: | Ziopharm Oncology, Inc.
|
| Issue: | Stock
|
| Amount: | $36,999,515
|
| Shares: | 7,991,256
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| Price: | $4.63
|
| Warrants: | For 2.4 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.56
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| Investors: | ProQuest Investments; L BI Group, Inc. (an affiliate of Lehman Brothers); Emerging Technology Partners; Knott Partners; Panacea Asset Management LLC; Cycad Group; Henderson Global Investors; Medical Biohealth Trends and VCH Expert Biotechs, both funds advised by Medical Strategy
|
| Placement agents: | Paramount BioCapital, Inc., Griffin Securities, Inc.
|
| Settlement date: | May 3
|
| Stock symbol: | OTCBB: ZIOP
|
| Stock price: | $5.25 at close May 3
|
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