By Sheri Kasprzak
New York, Feb. 24 - GPC Biotech AG said it has concluded a private placement of stock for €36,236,200.
The company issued 2.86 million shares at €12.67 each to two investment companies owned by Dietmar Hopp, the co-founder of SAP AG.
Proceeds will be used to commercialize the company's anticancer candidate satraplatin.
Based in Martinsried, Germany, GPC is a biopharmaceutical company focused on developing treatments for cancer.
| Issuer: | GPC Biotech AG
|
| Issue: | Stock
|
| Amount: | €36,236,200
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| Shares: | 2.86 million
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| Price: | €12.67
|
| Warrants: | No
|
| Settlement date: | Feb. 23
|
| Stock symbol: | Frankfurt: GPC
|
| Stock price: | €13.00 at close Feb. 23
|
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