>>HAYWARD, Calif., Dec. 10 /PRNewswire-FirstCall/ -- Kosan Biosciences Incorporated (Nasdaq: KOSN - News) today announced that it has obtained commitments to purchase $28.0 million of its common stock in a registered direct offering. Under the terms of the transaction, Kosan will sell up to 3,115,000 shares of its common stock at $9.00 per share to a select group of institutional investors. The closing of the offering is expected to take place on December 15, 2003, subject to the satisfaction of customary closing conditions. All of the shares of common stock are being offered by Kosan pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. SG Cowen Securities Corporation, lead agent, together with CIBC World Markets Corp. and Adams, Harkness & Hill, Inc. acted as the placement agents for the offering. Seaview Securities acted as a financial advisor to Kosan in connection with the transaction.<<
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At least the company get the proceeds of this sale.
Cheers, Tuck |
