By Sheri Kasprzak
New York, Feb. 5 - Enzo Biochem, Inc. is gearing up to settle a $15 million direct placement of stock.
A group of institutional investors focused on life sciences agreed to buy 1 million shares of the company's stock.
The shares are being sold under the company's shelf registration.
Lazard Capital Markets LLC was the placement agent.
The deal is set to close Feb. 7.
Proceeds will be used for future acquisitions, clinical research and development programs, clinical development of product candidates, capital expenses and working capital.
New York-based Enzo develops therapeutic treatments for HIV-1 infection, for hepatitis B and hepatitis C and for Crohn's disease.
| Issuer: | Enzo Biochem, Inc.
|
| Issue: | Stock
|
| Amount: | $15 million
|
| Shares: | 1 million
|
| Price: | $15.00
|
| Warrants: | No
|
| Placement agent: | Lazard Capital Markets LLC
|
| Announcement date: | Feb. 5
|
| Settlement date: | Feb. 7
|
| Stock symbol: | NYSE: ENZ
|
| Stock price: | $15.08 at close Feb. 2
|
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