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REDWOOD CITY, Calif., Feb. 14 /-/ -- Genelabs
Technologies, Inc. (Nasdaq: GNLB) announced today that it has completed the
sale of approximately 5.8 million shares of its common stock and warrants
to purchase approximately 1.7 million shares of its common stock to
institutional and accredited investors for gross proceeds of $10.0 million.
Genelabs sold the shares and warrants for $1.72 per share (which includes
the warrant purchase price of $0.125 per share underlying the warrants).
The exercise price on the warrants is $1.85 per share. Oppenheimer & Co.,
Inc. acted as placement agent in the transaction.
The common stock and warrants to purchase common stock have not been
registered under the Securities Act of 1933, as amended, or under any state
securities law, and may not be offered or sold in the United States (or to
a U.S. person) absent a registration statement or exemption from the
registration requirements of the Securities Act of 1933, as amended, and
applicable state laws. This announcement does not constitute an offer to
sell, nor is it a solicitation of an offer to buy, these securities.
Contact: James A. D. Smith
President and Chief Executive Officer
Phone: 650-562-1424
