T.R. Winston is placement agent; warrants reflect small premium
By Susanna Moon
Chicago, Aug. 19 - GenSpera, Inc. said it entered into subscription agreements for $5 million of units of one share and one warrant. T.R. Winston & Co., LLC is the placement agent.
The company will sell 3,333,373 units at $1.50 per each.
The five-year warrants are exercisable at $1.75 per share, which reflects a 2.94% premium to the company's closing price on Aug. 16.
"We intend to use these funds primarily to carry our G-202 phase 2 hepatocellular carcinoma trial through to completion, which if successful, will position GenSpera well for partnering discussions and further development of G-202," Craig Dionne, GenSpera chief executive officer and president, said in a company press release.
GenSpera is a San Antonio-based pharmaceutical company focused on the discovery and development of pro-drug cancer therapeutics.
| Issuer: | GenSpera, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $5 million
|
| Units: | 3,333,373
|
| Price: | $1.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.75
|
| Agent: | T.R. Winston & Co., LLC
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 19
|
| Stock symbol: | OTCBB: GNSZ
|
| Stock price: | $1.70 at close Aug. 16
|
| Market capitalization: | $40.13 million
|
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