By Devika Patel
Knoxville, Tenn., April 3 - Dendreon Corp. said it has arranged a $47.36 million direct offering of stock and warrants.
The company will sell 8 million common shares at $5.92 per share to an institutional investor, who also will receive seven-year warrants for 8 million common shares. The warrants are exercisable at $20.00.
Settlement is expected April 8. Lazard Capital Markets LLC is the agent.
Dendreon is a Seattle-based biotechnology company.
Issuer: Dendreon Corp.
Issue: Common stock
Amount: $47.36 million
Shares: 8 million
Price: $5.92
Warrants: For 8 million common shares
| Warrant expiration: | Seven years
|
| Warrant strike price: | $20.00
|
| Agent: | Lazard Capital Markets LLC
|
| Pricing date: | April 3
|
| Settlement date: | April 8
|
| Stock symbol: | Nasdaq: DNDN
|
| Stock price: | $5.08 at close on April 2
|
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