By Sheri Kasprzak
New York, Sept. 19 - Genta Inc. plans to close a $16 million direct placement.
The company will issue 20 million shares at $0.80 each to a group of institutional investors.
The shares are being sold under the company's shelf registration.
The deal is slated to close Sept. 22.
Rodman & Renshaw, LLC was the placement agent.
Located in Berkley Heights, N.J., Genta is a biopharmaceutical company focused on treatments for cancer.
| Issuer: | Genta Inc.
|
| Issue: | Stock
|
| Amount: | $16 million
|
| Shares: | 20 million
|
| Price: | $0.80
|
| Warrants: | No
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | Sept. 19
|
| Settlement date: | Sept. 22
|
| Stock symbol: | Nasdaq: GNTA
|
| Stock price: | $1.10 at close Sept. 19
|
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