BioCentury
ARTICLE | Financial News

AnGes looks to raise at least $42 million

October 2, 2013 1:20 AM UTC

Japanese gene therapy company AnGes MG Inc. (Tokyo:4563) said it hopes to raise at least Y4.1 billion ($42 million) through Oct. 20, 2014, through the exercise of 50,000 stock acquisition rights by UBS. Each right entitles UBS to purchase a share at 90% of the previous day's closing price, with a minimum exercise price of Y82,700, AnGes closing price on Sept. 30, the day before the deal was announced. On Oct. 18, AnGes will receive Y22.5 million ($228,600) through the issue of the rights at Y450. AnGes was off Y2,200 to Y80,500 on Tuesday. ...