NEW YORK--(BUSINESS WIRE)--ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP) announced today that it has entered into definitive agreements with both existing and new investors to raise approximately $5.05 million in gross proceeds, before deducting placement agent fees and estimated offering expenses, in a private placement that was priced “at market.” Upon closing of the private placement, the Company will issue units consisting of one share of common stock and a warrant to purchase one share of common stock, with the purchase price per unit of $1.825. Pursuant to the agreements governing the private placement, the Company will issue approximately 2.77 million shares of common stock and warrants to purchase approximately 2.77 million additional shares of common stock in the aggregate. The closing of the offering is subject to certain conditions, and is expected to occur on or around September 15, 2009.
