By Sheri Kasprzak
New York, Feb. 7 - Gentium SpA is gearing up to settle a $47,480,180 private placement of American Depositary Shares.
A group of U.S. and Italian institutional investors agreed to buy 2.354 million ADSs at $20.17 each. The price per ADS is a 2.7% discount to the company's $20.75 closing stock price on Tuesday.
The investors include Alexandra Global Master Fund Ltd.; Atlas Master Fund, Ltd.; Caxton Advantage Life Sciences Fund, LP; Caxton International Ltd.; Chaumiere Consultadoria E Servicos Unipessoal LdA; Credit Suisse Securities (USA) LLC;
DAFNA LifeScience Ltd.; DAFNA LifeScience Market Neutral Ltd.;DAFNA LifeScience Select Ltd.; Defiante Farmaceutica LdA; GLG North American Opportunity Fund; Inverlochy Consultadoria E Servicos, LdA; JP Morgan Securities Inc.; Millennium Partners, LP; Morgan Stanley & Co. Inc.;
SmallCap World Fund, Inc.; Symphonia Sicav Comparto Italia Flessibile; Symphonia Sicav Comparto Italia Small Cap; UBS O'Connor FBO O'Connor PIPES Corporate Strategies Master Ltd.; Visium Balance Fund, LP; Visium Balanced Offshore Fund, Ltd.; and Windmill Master Fund LP.
ThinkEquity Partners LLC is the placement agent.
Proceeds will be used for the development of the company's product candidates, for the repurchase of marketing rights to Defibrotide to treat veno-occlusive disease and myeloma from Crinos SpA and for general corporate purposes.
Based in Villa Guardia, Italy, Gentium is a biopharmaceutical company focused on treatments for cancer and vascular diseases.
| Issuer: | Gentium SpA
|
| Issue: | American Depositary Shares
|
| Amount: | $47,480,180
|
| Shares: | 2.354 million
|
| Price: | $20.17
|
| Warrants: | No
|
| Investors: | Alexandra Global Master Fund Ltd.; Atlas Master Fund, Ltd.; Caxton Advantage Life Sciences Fund, LP; Caxton International Ltd.; Chaumiere Consultadoria E Servicos Unipessoal LdA; Credit Suisse Securities (USA) LLC; DAFNA LifeScience Ltd.; DAFNA LifeScience Market Neutral Ltd.; DAFNA LifeScience Select Ltd.; Defiante Farmaceutica LdA; GLG North American Opportunity Fund; Inverlochy Consultadoria E Servicos, LdA; JP Morgan Securities Inc.; Millennium Partners, LP; Morgan Stanley & Co. Inc.; SmallCap World Fund, Inc.; Symphonia Sicav Comparto Italia Flessibile; Symphonia Sicav Comparto Italia Small Cap; UBS O'Connor FBO O'Connor PIPES Corporate Strategies Master Ltd.; Visium Balance Fund, LP; Visium Balanced Offshore Fund, Ltd.; and Windmill Master Fund LP
|
| Placement agent: | ThinkEquity Partners LLC
|
| Announcement date: | Feb. 6
|
| Stock symbol: | Nasdaq: GENT
|
| Stock price: | $20.75 at close Feb. 6
|
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