SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Cell Genesys, Inc. (Nasdaq:CEGE) today announced that the Company has entered into a definitive agreement with a single institutional investor to sell 7.1 million shares of its common stock at a negotiated price of $4.22 per share, a price which is a 10% premium to the volume-weighted average price on May 9, and warrants to purchase 8.5 million shares of its common stock, exercisable at $10.00 per share, through a registered direct offering. The gross proceeds to the Company of this offering are $30.0 million before deducting offering fees and expenses. Credit Suisse Securities (USA) LLC acted as lead placement agent for the offering and Canaccord Adams Inc. and Cantor Fitzgerald & Co. acted as co-placement agents.
