Date: 2016-01-07
Type of information: Private placement
Company: Galena Biopharma (USA - OR)
Investors:
Amount: $21.75 million
Funding type: private placement
Planned used: Galena Biopharma intends to use the net proceeds from this offering to fund its ongoing Phase 3 PRESENT study and other clinical trials of its product candidates, and to augment its working capital and for general corporate purposes.
Others: * On January 7, 2016, Galena Biopharma announced the pricing of an underwritten public offering of 19,772,727 units at a public offering price of $1.10 per unit, for total gross proceeds of $21.75 million . Each unit consists of one share of common stock and 0.6 of a warrant to purchase a share of common stock at an exercise price of $1.42 per share. The warrants are immediately exercisable and expire on the fifth anniversary of the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately. * On January 6, 2016, Galena Biopharma announced it intends to offer shares of its common stock and warrants to purchase its common stock in an underwritten public offering. The shares of common stock and warrants to purchase common stock are being offered as units. The shares of common stock and warrants will be immediately separable and issued separately. Raymond James & Associates, Inc. will act as sole book-running manager for the offering.
The offering is expected to close on January 12, 2016 , subject to customary closing conditions. Galena has granted the underwriters a 30-day option to purchase up to an additional 2,965,909 shares of common stock and/or additional warrants to purchase up to 1,779,545 shares of common stock to cover over-allotments, if any.
Raymond James & Associates, Inc. is acting as the sole book-running manager for the offering. Roth Capital Partners , Noble Financial Capital Markets , FBR Capital Markets & Co. and Maxim Group LLC are acting as co-managers.
Therapeutic area: Cancer - Oncology
