Geller Biopharm Advisor to Threshold Pharmaceuticals, Inc.; Threshold Completes $35M PIPE
Published: Oct 06, 2009
NEW YORK, Oct. 6, 2009 (GLOBE NEWSWIRE) -- Matthew Geller, Ph.D., as a managing director of Reedland Capital Partners, an Institutional Division of Financial West Group, has co-led a $35 million Private Equity Offering for Threshold Pharmaceuticals, Inc. (Nasdaq:THLD). Dr. Geller has also served as an advisor to Threshold Pharmaceuticals since September of 2008. On October 5, 2009, Threshold completed a private placement of Threshold common stock and warrants with a select group of investors that includes Federated Kaufmann Fund, Frazier Healthcare Ventures and Great Point Partners, LLC. Threshold sold approximately 18.3 million shares of its common stock and warrants to purchase up to approximately 7.3 million shares of its common stock for gross proceeds of approximately $35 million. Each unit, consisting of one share of common stock and a warrant to purchase 0.4 of a share of common stock, has been sold at a purchase price of $1.91, which is equal to the consolidated closing bid price of the common stock as reported on the Nasdaq Capital Market on September 29, 2009, plus $0.05.