Sangamo BioSciences, Inc. Announces Common Stock Offering Raising Net Proceeds Of $20.15 Million

RICHMOND, Calif., June 16 /PRNewswire-FirstCall/ -- Sangamo BioSciences, Inc. (Nasdaq: SGMO - News), announced yesterday that it has priced an underwritten offering of 3,100,000 shares of common stock. The price per share of common stock sold in the offering was $6.50, resulting in net proceeds to Sangamo of approximately $20.15 million. The underwriter has been granted an option for a period of 30 days to purchase up to an aggregate of 465,000 additional shares of common stock from the company to cover over-allotments, if any. Sangamo intends to use the proceeds from the financing to continue the development of its ZFP Therapeutic product candidates and research programs and for other general corporate purposes. Piper Jaffray & Co. acted as the sole underwriter for this offering.

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