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Geron Announces Direct Equity Issuance
Thursday November 11, 7:30 am ET
MENLO PARK, Calif.--(BUSINESS WIRE)--Nov. 11, 2004--Geron Corporation (Nasdaq:GERN - News) announced today that it has entered into a definitive agreement to sell approximately 6.5 million shares of Geron common stock to institutional investors at $6.10 per share, for gross proceeds of $40 million. In connection with the sale, the company issued warrants with a sixty-day exercise period to purchase approximately 2.0 million shares at the same price per share, and longer term warrants, exercisable after 180 days, to purchase approximately 2.3 million shares at a premium.
"With this financing, our cash position is approximately $130 million," said David Greenwood, Geron's executive vice president and chief financial officer. "We are funding trials at Duke University Medical Center with the cancer

http://biz.yahoo.com/bw/041111/115258_1.html