Genelabs Technologies (GNLB) Announced $10M Private Placement
Genelabs Technologies, Inc. (Nasdaq: GNLB) entered into an agreement for the sale of approximately 5.8 million shares of its common stock and warrants to purchase approximately 1.7 million shares of its common stock to institutional and accredited investors for gross proceeds of $10.0 million.
The agreement provides for Genelabs to sell the shares and warrants for $1.72 per share (which includes the warrant purchase price of $0.125 per share underlying the warrants), with a warrant exercise price of $1.85 per share.
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