OXiGENE (OXGN) Enters $5M Private Placement
- Top 10 News for 2/8 - 2/12: Banks Crushed Amid Global Concerns; Tesla Ramps on Outlook; SEC Targets Boeing
- Republicans gear up for Supreme Court battle after Scalia's death
- Wall Street rallies; S&P 500 snaps five-day losing streak
- Loeb's Third Point LLC 13F Shows New Stake Axalta (AXTA), Morgan Stanley (MS), Liquidates T-Mobile (TMUS), Lowers eBay (EBAY) ...
- Intercept Pharma (ICPT) Said to Explore Sale Following Interest
OXiGENE, Inc. (Nasdaq: OXGN) entered into definitive agreements with institutional accredited investors in a private placement of $5.0 million of zero coupon convertible preferred stock (which are convertible into a total of approximately 1.38 million shares of common stock) and 2 series of warrants potentially exercisable for up to approximately 2.76 million additional shares of common stock, in the aggregate. In addition to the preferred stock not having a required dividend right, the preferred stock will not have any preferences over the Company's common stock, including liquidation rights. Subject to certain ownership limitations, the preferred stock is convertible at any time at the option of the holder into shares of common stock at a conversion price of $3.63 (which represents a price above the closing price of the common stock on the previous trading day). The first series of warrants will allow for the investors to purchase up to approximately 1.38 million shares of common stock at an exercise price of $3.40 per share and are exercisable for 5 years. The second series of warrants will allow for the investors to purchase up to approximately 1.38 million shares of common stock at an exercise price of $3.40 per share and are exercisable for 2 years. OXiGENE has agreed to register the resale of the shares of common stock issuable upon conversion of the preferred stock and upon exercise of the warrants.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Vulcan Materials (VMC) Doubles Qtr. Dividend to 20c/Share; Yields 0.9%
- Marriott Vacations Worldwide (VAC) Declares $0.30 Quarterly Dividend and Approves Additional 2M Share Buyback
- MagMutual Declares 2016 Dividends and Owners Circle® Benefits
Create E-mail Alert Related CategoriesEquity Offerings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!