REDWOOD CITY, Calif., March 17, 2011 (GLOBE NEWSWIRE) -- Threshold Pharmaceuticals, Inc. (Nasdaq:THLD) today announced the completion of its previously announced registered direct offering of common stock and warrants. The Company raised gross proceeds of approximately $30 million and issued approximately 14.3 million shares of common stock to investors together with warrants to purchase approximately 5.7 million shares of common stock. Investors in the offering purchased units consisting of one share of common stock and a warrant to purchase 0.4 of a share of common stock at a purchase price of $2.10, which is equal to the consolidated closing bid price of the common stock as reported on the Nasdaq Capital Market for March 10, 2011, plus $0.05. The warrants have a five-year term and an exercise price equal to $2.46 per share.
