By Devika Patel
Knoxville, Tenn., Sept. 30 - Threshold Pharmaceuticals, Inc. said it will raise about $35 million in a private placement of units.
The company will sell about 18.3 million units of one common share and a warrant to purchase 0.4 of a share at $1.91 per unit.
Each whole warrant is exercisable at $2.23 for five years.
Investors include Federated Kaufmann Fund, Frazier Healthcare Ventures and Great Point Partners, LLC.
MTS Securities, LLC and Reedland Capital Partners are the agents.
Settlement is expected Oct. 5.
Proceeds will be used for research and development, working capital and general corporate purposes.
Threshold is a biotechnology company based in Redwood City, Calif., that develops small molecule therapeutics for the potential treatment of cancer.
| Issuer: | Threshold Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and a warrant to purchase 0.4 of a share
|
| Amount: | $35 million (approximate)
|
| Units: | 18.3 million (approximate)
|
| Price: | $1.91
|
| Warrants: | A warrant to purchase 0.4 of a share per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.23
|
| Agents: | MTS Securities LLC, Reedland Capital Partners
|
| Investors: | Federated Kaufmann Fund, Frazier Healthcare Ventures, Great Point Partners LLC
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Stock symbol: | Nasdaq: THLD
|
| Stock price: | $1.88 at close Sept. 29
|
| Market capitalization: | $28 million
|
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