New Issue: GTC Biotherapeutics to sell $6 million of stock, warrants in direct offering

By Devika Patel

Knoxville, Tenn., Feb. 8 - GTC Biotherapeutics, Inc. said it has agreed to conduct a $6 million direct offering of stock and warrants.

GTC will sell 6,896,550 common shares at $0.87 per share. Investors also will receive warrants for 6,896,550 common shares, which are exercisable at $0.87 for seven years

The deal is slated to settle on Feb. 12.

Proceeds will be used for general corporate purposes.

Framingham, Mass.-based GTC develops and produces human therapeutic proteins through transgenic technology.

Issuer:	GTC Biotherapeutics, Inc.
Issue:	Common shares, warrants
Amount:	$6 million
Shares:	6,896,550
Price:	$0.87
Warrants:	For 6,896,550 shares
Warrant strike price:	$0.87
Warrant expiration:	Seven years
Pricing date:	Feb 8
Settlement date:	Feb.12
Stock symbol:	Nasdaq: GTCB
Stock price:	$0.87 at close Feb. 7

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