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Geron Corporation Announces Pricing Of Public Offering Of Common Stock And Warrants

MENLO PARK, Calif., May 22, 2020 (GLOBE NEWSWIRE) -- Geron Corporation (NASDAQ:GERN), a late-stage clinical biopharmaceutical company, today announced the pricing of its previously announced underwritten public offering

Benzinga · 05/22/2020 11:17

MENLO PARK, Calif., May 22, 2020 (GLOBE NEWSWIRE) -- Geron Corporation (NASDAQ:GERN), a late-stage clinical biopharmaceutical company, today announced the pricing of its previously announced underwritten public offering of 107,049,375 shares of its common stock and pre-funded warrants to purchase 8,335,239 shares of common stock, together with accompanying warrants to purchase 57,692,307 shares of common stock. The common stock and pre-funded warrants will be sold in combination with an accompanying warrant to purchase 0.5 of a share of common stock issued for each share of common stock or pre-funded warrant sold. The combined offering price to the public of each share of common stock and accompanying warrant is $1.30. The combined offering price to the public of each pre-funded warrant and accompanying warrant is $1.299.

All of the securities in the offering are being sold by Geron. The gross proceeds to Geron from this underwritten public offering are expected to be approximately $150 million, before deducting the underwriting discount and other estimated offering expenses payable by Geron. The offering is expected to close on or about May 27, 2020, subject to the satisfaction of customary closing conditions.

Geron intends to use the net proceeds from this public offering to fund its ongoing IMerge Phase 3 clinical trial in lower risk myelodysplastic syndromes to top-line results, its planned Phase 3 clinical trial in refractory myelofibrosis to complete patient enrollment, and for working capital and general corporate purposes.

Stifel and MTS Health Partners are acting as joint book-running managers for the offering. Needham & Company, BTIG and H.C. Wainwright & Co are acting as co-managers for the offering.