SEATTLE, WA--(MARKET WIRE)--Jun 22, 2007 -- Targeted Genetics Corporation (NasdaqCM:TGEN - News) today announced that it has entered into definitive agreements with institutional and other accredited investors with respect to the private placement of 6.7 million shares of its common stock at a purchase price of $2.905 per share for expected gross proceeds of approximately $19.5 million, before payment of placement agent commissions and offering expenses. Investors also will receive warrants to purchase 6.7 million shares of common stock at an exercise price of $3.25 per share. Rodman & Renshaw, LLC served as the placement agent for this transaction. The closing of the offering is subject to customary closing conditions, including approval of an additional listing application by the NASDAQ Stock Market.
