Geron Corporation Announces Full Exercise of Over-Allotment Option
MENLO PARK, Calif., Dec 08, 2010 (BUSINESS WIRE) -- Geron Corporation (GERN)
announced today that, in connection with its previously announced public
offering, the underwriters have exercised in full their option to purchase
2,608,695 additional shares of the Company's common stock at the public offering
price of $5.00 per share.
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With the full exercise of the over-allotment option,
the total gross proceeds to Geron from the public offering are expected to be
$100.0 million, before deducting underwriting discounts and commissions and
estimated offering expenses. The closing of the public offering, including the
over-allotment option, is expected to occur on December 10, 2010, subject to
customary closing conditions.
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Geron intends to use the net 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.
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J.P. Morgan Securities LLC and Lazard Capital Markets LLC are acting as the 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 and a
final prospectus supplement relating to the offering have been filed with the SEC
and are available on the SEC's web site at sec.gov.
(Look for company comments after the closing, IMO)
Best,
S. |
