Monday, December 19, 2005
Sembiosys private placement increased by 50%
SemBioSys announced last Thursday that their previously announced private placement of stock had been increased by approximately 50% to $15.5 million.
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SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a broad pipeline of protein-based pharmaceutical product candidates and non-pharmaceutical products, announced today that it has been advised by Orion Securities Inc., the lead underwriter of its previously-announced private placement, that the underwriters intend to exercise their option in full. As a result, SemBioSys will issue a total of 3,864,000 units at a price of $4.00 per unit, for total proceeds of $15,456,000. This total includes the underwriters' option of 1,288,000 additional units, which represents a 50% increase over the 2,576,000 units initially offered.
