OXGN AC 1Q has 2 share sales
Rough math is #4.64 then #3.70 for PIPR. Closed 3.42 -.13 with
quote bid 1.68 ask 3.63 may point direction. Trades thin, fast.
OXiGENE Reports First Quarter 2013 Financial Results
4:00p ET May 6, 2013 (GlobeNewswire)
During the 2013 quarter, the Company issued approximately 323,000 shares of common stock through the Company's At the Market agreement with MLV & Co. LLC for net proceeds of approximately $1.5 million.
At March 31, 2013, OXiGENE had cash and restricted cash of approximately $4.6 million, compared with approximately $5.0 million at December 31, 2012. At April 30, 2013, the Company had cash and restricted cash of approximately $8.7 million which includes the cash received from the private placement financing described below.
Following the close of the first quarter, in April 2013, the Company raised $5.0 million in gross proceeds by issuing convertible preferred stock in a private placement to accredited institutional investors. The preferred stock is convertible into a total of approximately 1.38 million shares of common stock. Additionally, two series of warrants potentially exercisable for up to approximately 2.92 million of additional shares of common stock were issued. The preferred stock does not have any dividend rights or any preferences over the Company's common stock, including liquidation rights.
All of the per share and share amounts reflect the effect of the 1:12 reverse stock split that became effective on December 28, 2012.
Fave Manhattan bar: There's No One Here. Just Poets and Artists.
