Geron Corporation Announces the Pricing of Its Public Offering of Common Stock
MENLO PARK, Calif., Dec 07, 2010 (BUSINESS WIRE) -- Geron Corporation (GERN)
today announced the pricing of an underwritten public offering of 17,391,305
shares of its common stock at a price to the public of $5.00 per share. The gross
proceeds to Geron from this underwritten public offering are expected to be
approximately $87.0 million, before deducting underwriting discounts and
commissions and other estimated offering expenses. The offering is expected to
close on or about December 10, 2010, subject to customary closing conditions.
Geron has also granted the underwriters a 30-day option to purchase up to an
additional 2,608,695 shares of its common stock to cover over-allotments, if any.
All of the shares in the offering are to be sold by Geron.
Geron intends to use the proceeds from the offering for research and development,
including clinical trials for its product candidates, clinical development of
product candidates it has in-licensed, and other general corporate purposes.
J.P. Morgan Securities LLC and Lazard Capital Markets LLC are acting as joint
book-running managers of the offering. Rodman & Renshaw, LLC, Roth Capital
Partners, LLC and WBB Securities, LLC are acting as co-managers of the offering.
This press release does not constitute an offer to sell or the solicitation of an
offer to buy any of these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer, solicitation
or sale is not permitted.
A shelf registration statement together with an accompanying base prospectus on
Form S-3 relating to the shares was filed with the Securities and Exchange
Commission (SEC) and is effective. A preliminary prospectus supplement relating
to the offering has been filed with the SEC and is available on the SEC's web
site at sec.gov. A final prospectus supplement relating to these
securities will be filed with the SEC and, when available, may be obtained from
the above-mentioned SEC website or from the offices of J.P. Morgan Securities
LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New
York, 11717, or by phone at (866) 803-9204, or Lazard Capital Markets LLC at 30
Rockefeller Plaza, 60th Floor, New York, NY, 10020 or via telephone at (800)
542-0970.
About Geron
Geron is developing first-in-class biopharmaceuticals for the treatment of cancer
and chronic degenerative diseases. The company is advancing anti-cancer therapies
through multiple Phase 2 clinical trials in different cancers by targeting the
enzyme telomerase and with compounds designed to penetrate the blood-brain
barrier (BBB). The company is developing cell therapy products from
differentiated human embryonic stem cells for multiple indications, including
central nervous system (CNS) disorders, heart failure, diabetes and
osteoarthritis, and has initiated a Phase 1 clinical trial in spinal cord injury.
For more information, visit geron.com. |
