Raises approximately $22 mil. through private placement of 477,540 units at $50 per unit. Alex. Brown and Montgomery Securities were placement agents. Each unit consists of one share of Series A convertible preferred stock and and a warrant to acquire one share of common stock. The preferred stock is convertible to Genta common stock at $9 per share, subject to adjustments. Net proceeds will go primarily to fund preclinicals and clinicals conducted with Genta's joint venture with the Swiss firm Jagotec.
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