Genaissance to Raise Approximately $6 Million in Private Placement
19 Noviembre 2004 - 7:56AM
PR Newswire (US)
Genaissance to Raise Approximately $6 Million in Private Placement
NEW HAVEN, Conn., Nov. 19 /PRNewswire-FirstCall/ -- Genaissance
Pharmaceuticals, Inc. (NASDAQ:GNSC) announced today that it has
entered into definitive agreements with institutional investors and
other accredited investors with respect to the private placement of
3.55 million shares of newly issued common stock, together with
warrants to purchase 3.55 million shares of common stock, for a
total purchase price of approximately $6 million. The transaction
is subject to customary closing conditions and is expected to close
later today. The net proceeds from the private placement are
expected to be used for general corporate purposes, including
repayment of debt. The securities issued in the private placement
have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the U.S. absent
registration or an applicable exemption from registration
requirements. As part of the transaction, Genaissance has agreed to
file a registration statement with the Securities and Exchange
Commission within 30 days of the closing covering the resale of the
shares of common stock, as well as the shares of common stock
issuable upon exercise of the warrants, issued in the private
placement. This press release contains forward-looking statements,
including statements about the expected closing of the private
placement and the use of the offering proceeds. Such statements are
subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from
those referred to in such statements, including, but not limited
to, the satisfaction of closing conditions, the extent to which
Genaissance will be able to operate on its existing capital
resources, uncertainties relating to Genaissance's ability to fund
the development of vilazodone, its future financial results, the
growth and development of Genaissance's business and market
opportunities, uncertainties relating to product development and
regulatory actions or delays, the attraction of new business and
strategic partners, the adoption of our technologies by the
pharmaceutical industry, the acceptance of our cardiac tests by
health care providers, the timing and success of clinical trials,
competition from pharmaceutical, biotechnology and diagnostics
companies and those risks identified in our Quarterly Report on
Form 10-Q for the quarter ended September 30, 2004, filed with the
Securities and Exchange Commission on November 15, 2004, and in
other filings we make with the Securities and Exchange Commission
from time to time. The forward-looking statements contained herein
represent the judgment of Genaissance as of the date of this
release. Genaissance disclaims any obligation to update any
forward-looking statement. DATASOURCE: Genaissance Pharmaceuticals,
Inc. CONTACT: Kevin Rakin, President & Chief Executive Officer
of Genaissance Pharmaceuticals, Inc., +1-203-773-1450, ; or Rhonda
Chiger (investors) of Rx Communications, +1-917-322-2569, Web site:
http://www.genaissance.com/
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