ALAMEDA, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Xenogen Corporation
(Nasdaq: XGEN) announced today that it has entered into definitive agreements
to sell $15 million of its common stock and warrants exercisable for
additional shares of common stock. The securities are being sold to
accredited institutional and venture investors and the parties expect to close
the transaction shortly.
Xenogen has agreed to sell 5,154,639 shares of its common stock at $2.91
per share, a $0.05 premium to the closing price of the common stock on August
11, 2005. The sale includes 30% warrant coverage at an exercise price of
$3.29 per share, a 15% premium to the common stock closing price on August 11,
2005. The proceeds of the financing are expected to be used for working
capital and general corporate purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security. The securities have not been
registered under the Securities Act of 1933, as amended, or any state
securities laws. Unless so registered, the common stock may not be offered or
sold in the United States absent an exemption from, or in a transaction not
subject to, the registration requirement of the Securities Act and any
applicable state securities laws. As part of this transaction, Xenogen has
agreed to file a registration statement covering the resale of the shares of
common stock and the shares of common stock issuable upon exercise of the
warrants acquired in the private placement.
SOURCE Xenogen Corporation
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Related links:
http://www.xenogen.com
CONTACT:
William A. Albright, Chief Financial Officer
of Xenogen Corporation, +1-510-291-6100
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