BRISBANE, Australia, May 9 /PRNewswire-FirstCall/ -- Progen Pharmaceuticals Limited today announced that it has completed the sale of 6.9 million shares of common stock (ordinary shares) at US$4.75 (A$5.74) per share for an aggregate purchase price of US$32.8 million (A$39.7 million) to institutional and other investors, which was announced on 3 May 2007. The shares were offered under the Company's effective shelf registration statement previously filed with the Securities and Exchange Commission. The shares represent new ordinary shares which were issued by Progen on the settlement date.
Thomas Weisel Partners LLC served as sole placement agent in connection with the U.S. registered direct transaction. Copies of the final prospectus relating to this offering may be obtained from Thomas Weisel Partners LLC, One Montgomery Street, San Francisco, California 94104.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in the USA, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under US laws prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Progen
Progen Pharmaceuticals (formerly Progen Industries Limited) is an Australian-based globally focused biotechnology company committed to the discovery, development and commercialisation of small molecule therapeutics primarily for the treatment of cancer.
CONTACT: Progen Information: Justus Homburg Progen Pharmaceuticals Limited T: +61 7 3842 3333 E: justus.homburg@progen.com.au Linton Burns Progen Pharmaceuticals Limited T: +61 7 3842 3333 E: linton.burns@progen.com.au Media Relations Australia: Rebecca Piercy Buchan Consulting T: +61 2 9237 2800 / 0422 916 422 E: rpiercy@bcg.com.au Investor Relations Australia: Rebecca Wilson Buchan Consulting T: +61 417 382 391 E: rwilson@bcg.com.au Media Relations USA: Robert D. Stanislaro FD T: 212-850-5657 E: robert.stanislaro@fd.com Investor Relations USA: Evan Smith FD T: 212-850-5606 E: Evan.smith@fd.com
Progen Pharmaceuticals
