NEWS
Form 8-K/A for GENTA INC DE/
6-Apr-2009
Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securitie
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed on April 3, 2009, on April 2, 2009 Genta Incorporated (the "Company") closed on a securities purchase agreement (the "Securities Purchase Agreement"), with certain accredited institutional investors listed on the signature page thereto, to place up to $12 million of senior secured convertible notes (the "2009 Notes") and corresponding warrants (the "Warrants") to purchase common stock with such investors (the "Financing"). The Company closed with gross proceeds of approximately $6 million of such 2009 Notes and Warrants and with net proceeds of approximately $5.2 million after deducting commissions and estimated expenses. With such net proceeds from the initial closing, and assuming the remaining $6 million does not close, the Company believes that it has sufficient working capital and cash on hand until June 2009.
As previously disclosed, attached are complete copies of each of the form of senior secured convertible note, form of warrant, form of Securities Purchase Agreement, form of Security Agreement and form of Consent Agreement. The foregoing description of the Financing, and any other documents or filings referenced herein, are qualified in their entirety by reference to such exhibits, documents or filings.
