Rochester, NY 8/28/2009 10:24:38 PM
Cerus Corp pricing of common stock offering of warrant
Cerus Corporation
Cerus Corporation announced that it has entered into definitive agreements with selected investors to sell 6,000,000 units, with each unit consisting of one share of the Company’s common stock and a warrant to purchase 0.4 of a share of the Company’s common stock for gross proceeds of approximately $13.2 million in a registered direct offering.
The Company estimates that net proceeds from the offering will be approximately $12.2 million, after deducting placement agent fees and estimated offering expenses. The investors have agreed to purchase the units at a purchase price of $2.20 per unit. The warrants, which represent the right to acquire an aggregate of up to 2,400,000 shares of the Company’s common stock, will have a five-year term from the date of issuance, will be exercisable beginning six months after the date of issuance and will be exercisable at a price of $2.90 per share.
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