Hi, Stormy are you still looking at VSGN? With the secondary offering over it may have a rebound in the coming weeks. I may take a little bite of it this week(your thoughts)
Vasogen to Trade Under Former NASDAQ Trading Symbol ‘VSGN’ Effective May 15th
Toronto, Ontario - May 03, 2007
Vasogen Inc. (NASDAQ:VSGND; TSX:VAS) today announced that it has received confirmation that its interim trading symbol “VSGND” will be changed back to “VSGN” effective May 15, 2007.
For a period of 20 trading days beginning April 17, 2007, Vasogen’s common stock began trading on a post-reverse split basis on the NASDAQ under the trading symbol “VSGND” – an interim symbol to denote its new status. On May 15, 2007, Vasogen’s common stock will trade on the NASDAQ under its former symbol “VSGN”. The trading symbol for Vasogen on the TSX (“VAS”) has remained unchanged.
Vasogen Raises US$16 Million Through Sale of Common Shares and Warrants
Mississauga, Ontario - May 18, 2007
Vasogen Inc. (NASDAQ:VSGN; TSX:VAS) today announced that it has entered into definitive purchase agreements with institutional investors to raise US$16 million in gross proceeds through the sale of its common shares at a price of US$3.25, which is a premium to yesterday’s closing stock price on the Nasdaq stock market. Under the terms of the purchase agreements, Vasogen will also issue 5-year warrants to purchase an additional 3.7 million common shares at an exercise price of US$3.16 per share. If all of the 3.7 million warrants are exercised, the Company will receive an additional US$11.7 million in gross proceeds. Following the closing of the financing, expected on or about May 24, 2007 and subject to customary closing conditions, Vasogen will have approximately 22.4 million shares of common stock outstanding. Closing of the transaction will be subject to Toronto Stock Exchange acceptance and usual securities regulatory conditions.
The Company estimates net proceeds from the financing to be approximately US$14.6 million after deducting placement agent fees and the estimated costs associated with the offering. The Company plans to use the net proceeds of this financing for working capital purposes, including but not limited to funding the activities associated with the commercialization of its Celacade™ technology in Europe, the continued development of its Celacade™ technology, and the continued development of its drug, VP025.
Rodman & Renshaw, LLC and JMP Securities LLC are acting as placement agents in connection with this transaction and Rodman & Renshaw, LLC managed the placement and sale of the securities. The placement agents will together receive 295,044 three-year warrants to purchase common shares at US$3.81 per share.
surf's up......crikey
