OXiGENE Announces $5.8 Million Private Placement

Published: Sep 20, 2013

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SOUTH SAN FRANCISCO, Calif., Sept. 19, 2013 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer, announced that it has entered into definitive agreements with institutional accredited investors in a private placement of $5.8 million of zero coupon series B convertible preferred stock (which are convertible into a total of approximately 2.45 million shares of common stock) and a series of warrants potentially exercisable for up to approximately 2.45 million additional shares of common stock, in the aggregate. In addition to the preferred stock not having a required dividend right or voting rights, the preferred stock will not have any preferences over the Company's common stock, including liquidation rights.

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