Finance

Italian pharmaceutical raises $10.9 million in private offering

Published in Cancer Weekly, November 1st, 2005

Gentium, SpA, (GNT) announced that it has entered into definitive agreements for a $10.9 million private placement of 1,551,125 million of its American Depository Shares (ADSs) at a price of $7.05 per ADS.

Subject to shareholder approval, investors in the financing will also receive warrants to purchase 620,452 ADSs at an exercise price of $9.69 per share. The closing is subject to certain conditions precedent to the closing. The purchase price is subject to reduction of 20% if the company's shareholders do not approve the issuance of the warrants within 180 days. Funds managed by Great Point Partners, LLC, were the lead investors in the transaction. Rodman & Renshaw,...

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Source: Cancer Weekly (2005-11-01)

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