CONCORD, Calif.--(BUSINESS WIRE)--Aug. 20, 2009--
Cerus Corporation (NASDAQ:CERS) today announced that it has entered into
definitive agreements with selected investors to sell 6,000,000 units,
with each unit consisting of (i) one share of the Company’s common stock
and (ii) a warrant to purchase 0.4 of a share of the Company’s common
stock for gross proceeds of approximately $13.2 million in a “registered
direct” offering. The Company estimates that net proceeds from the
offering will be approximately $12.2 million, after deducting placement
agent fees and estimated offering expenses. The investors have agreed to
purchase the units at a purchase price of $2.20 per unit. The warrants,
which represent the right to acquire an aggregate of up to 2,400,000
shares of the Company’s common stock, will have a five-year term from
the date of issuance, will be exercisable beginning six months after the
date of issuance and will be exercisable at a price of $2.90 per share.
The transaction is expected to close on or about August 25, 2009,
subject to the satisfaction of customary closing conditions. The net
proceeds from the transaction are expected to be used for working
capital and general corporate purposes.
Cowen and Company, LLC, a subsidiary of Cowen Group, Inc. (NASDAQ:COWN),
acted as the exclusive placement agent for the transaction.
The securities described above are being offered by Cerus Corporation
pursuant to effective registration statements previously filed with the
Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. The
securities may be offered only by means of a prospectus. Copies of the
final prospectus supplement and accompanying prospectus relating to this
offering may be obtained from the Securities and Exchange Commission’s
website at http://www.sec.gov
or from the offices of Cowen and Company, LLC c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department (631) 254-7106.
ABOUT CERUS
Cerus Corporation is a biomedical products company focused on
commercializing the INTERCEPT Blood System to enhance blood safety. The
INTERCEPT Blood System is designed to inactivate blood-borne pathogens
in donated blood components intended for transfusion.
INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus
Corporation.
Forward-Looking Statements
This press release contains forward-looking statements, including
statements related to the anticipated closing of the offering. Because
the Company’s forward-looking statements are subject to risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those in the forward-looking
statements. These factors include, without limitation, risks related to
whether the offering will close when anticipated or at all, and the
Company’s need for additional capital. These and other risk factors are
discussed under “Risk Factors” in the Quarterly Report on Form 10-Q for
the quarter ended June 30, 2009 filed by the Company with the Securities
and Exchange Commission on August 10, 2009. The Company disclaims any
obligation or undertaking to update or revise any forward-looking
statements contained in this press release.
Source: Cerus Corporation
Cerus Corporation
Kevin D. Green, 925-288-6138
Vice President,
Finance & CAO