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Oxigene Inc Announces $5.8 Million Private Placement

Thursday, 19 Sep 2013 12:40pm EDT 

Oxigene Inc announced that it has entered into definitive agreements with institutional accredited investors in a private placement of $5.8 million of zero coupon series B convertible preferred stock (which are convertible into a total of approximately 2.45 million shares of common stock) and a series of warrants potentially exercisable for up to approximately 2.45 million additional shares of common stock, in the aggregate. In addition to the preferred stock not having a required dividend right or voting rights, the preferred stock will not have any preferences over the Company's common stock, including liquidation rights. The offering is expected to close on or about September 20, 2013, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. acted as the exclusive placement agent for the transaction. 

Company Quote

-0.01 -0.55%
2:42pm EST