NEW YORK (Thomson Financial) - Dendreon Corp. Thursday said it has entered
into an agreement with an institutional investor to sell 8 million common shares
and warrants to buy up to 8 million shares for about $47 million.
The investor has agreed on a price of $5.92 a share and warrant exercise
price of $20 a share, the company said.
For the common stock, the purchase price is a 17% premium to the closing
price $5.06 a share on Apr. 2. The warrants will be exercisable at any time on
or after Oct. 8.
Dendreon shares rose 7.5% to $5.44 in premarket trading.
Christie Rizk
cr/vj
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