>>RICHMOND, Calif., Nov. 11 /PRNewswire-FirstCall/ -- Sangamo BioSciences, Inc. (Nasdaq: SGMO - News) announced today that it has obtained commitments from a select group of institutional investors and Dow AgroSciences, LLC to purchase approximately 5.08 million shares of common stock, at a price of $3.85 per share, for gross proceeds of approximately $19.5 million, before fees and expenses. The closing is expected to take place on Wednesday, November 16, 2005, subject to the satisfaction of customary closing conditions. JMP Securities and Piper Jaffray & Co. acted as joint lead placement agents, with Leerink Swann & Company acting as co-placement agent for this offering.
In addition, Michael Wood, a director of the Company, has agreed to purchase 235,849 shares of common stock from the Company, at a price of $4.24 per share, the closing bid price on November 10, 2005, for total proceeds of approximately $1.0 million. The closing for this purchase is scheduled to occur coincident with the closing of the sale to institutional and strategic investors.<<
About a 10% discount, but no warrants, could be worse . . .
Cheers, Tuck |
