REDWOOD CITY, Calif., Sept. 2, 2008 (GLOBE NEWSWIRE) -- Threshold Pharmaceuticals, Inc. (Nasdaq:THLDD), today announced that its previously announced private placement of Threshold common stock and warrants received shareholder approval and has been completed. Threshold sold 8,970,574 shares of its common stock at $2.04 per share, and warrants to purchase up to 3,588,221 shares of its common stock for gross proceeds of $18.3 million and net offering proceeds of approximately $17.0 million. The warrants have an exercise price of $2.34 per share, subject to adjustment, and an expiration date of August 29, 2013. The number of shares of common stock issued and exercisable under the warrants, the purchase price of the common stock and the exercise price of the warrants described in this paragraph give effect to the reverse stock split effected by the Company as of August 20, 2008.
