By Sheri Kasprzak
New York, Dec. 14 - Introgen Therapeutics, Inc. closed a direct placement of shares for $23,935,200.
The company sold 4,986,500 shares at $4.80 each to a group of institutional investors. The price per share is a 5.2% premium to the company's $4.56 closing stock price on Dec. 12.
The shares were sold under the company's shelf registration.
Mulier Capital Ltd. was the placement agent.
Proceeds will be used for the development of the company's clinical programs, including that of Advexin, INGN 241 and others.
Introgen, based in Austin, Texas, develops molecular therapies for cancer and other diseases.
| Issuer: | Introgen Therapeutics, Inc.
|
| Issue: | Stock
|
| Amount: | $23,935,200
|
| Shares: | 4,986,500
|
| Price: | $4.80
|
| Warrants: | No
|
| Placement agent: | Mulier Capital Ltd.
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Nasdaq: INGN
|
| Stock price: | $4.58 at close Dec. 14
|
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