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Geron Completes Stock, Warrant Sale

4:51PM ET 4/01/2022 MT Newswires
Geron (GERN) late Friday said it has closed a public offering of common shares and warrants.

The offering covered 53.3 million shares and pre-funded warrants to purchase 18.1 million shares, together with accompanying warrants to purchase 35.7 million shares. The combined price of each share and accompanying warrant was $1.05, while the price of each pre-funded warrant and accompanying warrant was $1.049.

The five-year warrant entitles the holder to buy one-half of a share at $1.45 per share.

The biopharmaceutical company expects to generate approximately $70 million in net proceeds.

Geron shares were slipping 2% in after-hours trading.

Price: 1.49, Change: -0.03, Percent Change: -1.97