GAITHERSBURG, Md.--(BUSINESS WIRE)--GenVec, Inc. (Nasdaq:GNVC) announced today that it has entered into purchase agreements with certain current and new institutional and accredited investors for the sale of 11,258,279 shares of its common stock and warrants to purchase 2,251,654 shares of its common stock. The shares of common stock and warrants are being offered in units consisting of one share of common stock and a warrant to purchase 0.20 shares of common stock at a per unit price of $1.51 per share. The warrants have a term of five years and an exercise price of $2.016 per share.
