Navigation Links
Genelabs Technologies Announces Commitments to Raise $23.7 Million in a Registered Direct Financing
Date:9/26/2007

Funds to Support Ongoing HCV Drug Discovery Projects

REDWOOD CITY, Calif., Sept. 26 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB) announced today that it has obtained commitments from several institutional investors to purchase approximately 12.9 million shares of its common stock and warrants to purchase approximately 2.6 million shares of its common stock for gross proceeds of approximately $23.7 million. The investors have agreed to purchase the shares and warrants for $1.84 per unit (each unit consisting of one share and a warrant to purchase 0.20 shares of common stock). The exercise price of the warrants will be $2.08 per share. The warrants will be exercisable at any time prior to the fifth anniversary of the closing of the transaction. The closing of the offering is expected to take place on October 1, 2007, subject to satisfaction of customary closing conditions. Genelabs plans to use the proceeds from this financing to support its ongoing hepatitis C virus (HCV) drug discovery programs and for general corporate purposes. The proceeds will not be used to fund a new phase III clinical trial of Prestara. Deutsche Bank Securities Inc. acted as exclusive placement agent in the transaction.

A shelf registration statement relating to these securities (File No. 333-145497) has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer of these securities will be solely by means of a prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering. Copies of the final prospectus, including the prospectus supplement when filed, can be obtained at the Securities and Exchange Commission's website, http://www.sec.gov, or from Genelabs.

Contact: James A. D. Smith

President and Chief Executive Officer

Phone: 650-562-1424


'/>"/>
SOURCE Genelabs Technologies, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Researchers Develop Technologies to Devour Food Pathogens
2. Researchers Study Safety of Assisted Reproductive Technologies
3. India to Propose Global Fund for Clean Energy Technologies
4. PM announces a new health care order for India
5. Ramdoss Announces Introduction of RCH-II
6. Britain Announces Third Transfusion Related Mad Cow Case
7. Gates Foundation Announces $287 Million In Grants Towards AIDS Vaccine
8. Tibet Announces the Dalai Lama’s Tour of South Americ
9. NHS announces further Cost cutting Measures
10. Indian PM Announces Of Setting Up India Study Center At Tashkent
11. PowderMed Announces Needle-Less Flu Vaccine
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... , ... The Military Officers Association of America (MOAA) announced its support for ... Marine Col. Thomas G. Bowman. , Bowman currently serves as the staff director for ... the issues and challenges veterans face with the VA. Following a 30-year career of ...
(Date:6/23/2017)... ... June 23, 2017 , ... Military Connection friend ... entry to the JFK Virgin Atlantic lounge. , Bensko is no stranger to ... years ago, Bensko dedicated her life to supporting our wounded veterans. A world-class photographer, ...
(Date:6/23/2017)... ... , ... Goodcents Deli Fresh Subs today announced the opening of a new ... St. Topeka, Kan. 66604 (near 21st and Gage). It is owned and operated by ... locations in the Topeka and Bonner Springs, Kan. area. , “Goodcents has such ...
(Date:6/23/2017)... ... June 23, 2017 , ... Ensuring meat ... new videos highlight the importance of correctly using a meat thermometer. The videos ... done extensive research on consumer food safety habits. Dr. Bruhn explains the variety ...
(Date:6/23/2017)... ... ... 21 Middle East and South Asia Leaders Selected as Eisenhower Fellows , ... in 11 countries across the Middle East and South Asia to embark on a ... and ideas with the leading minds in their fields. , For the first ...
Breaking Medicine News(10 mins):
(Date:6/13/2017)... , June 13, 2017 Zimmer Biomet Holdings, Inc. ... today announced that the U.S. Food and Drug Administration (FDA) ... 3, 2015 relating to its Zhejiang, China ... "The successful clearance of the Warning Letter ... manufacturing facility is a measure of the progress we have ...
(Date:6/10/2017)... Ala. , June 9, 2017  Shane K. Burchfield, DPM, ... recognized for excellence as a Podiatrist in Alabama ... Podiatry at Family First Foot Care. He brings over 20 years ... medicine, pain management and healthcare, to his role. ... First Foot Care, PC is pleased to welcome you ...
(Date:6/8/2017)...  Less than a month ago, amateur hackers executed ... including hospital networks, in over 150 countries. ... largest online extortion attempts ever recorded. With the increasing ... imperative that providers understand where the risks lie, and ... and many other very real cyber threats.  ...
Breaking Medicine Technology: