Attached files
file | filename |
---|---|
EX-5.1 - OPINION OF KRAMER LEVIN NAFTALIS & FRANKEL LLP - SIGA TECHNOLOGIES INC | exhibit5-1.htm |
EX-1.1 - PLACEMENT AGENT AGREEMENT AMONG RBC CAPITAL MARKETS CORPORATION - SIGA TECHNOLOGIES INC | exhibit1-1.htm |
EX-10.1 - FORM OF SUBSCRIPTION AGREEMENT - SIGA TECHNOLOGIES INC | exhibit10-1.htm |
8-K - CURRENT REPORT - SIGA TECHNOLOGIES INC | sigatech_8k.htm |
Exhibit 99.1
SIGA Technologies, Inc. Raises $20.0
Million
in a Common Stock Offering
New York City, December 10, 2009 -- SIGA Technologies, Inc. (NASDAQ: SIGA), a company specializing in the development of pharmaceutical agents to fight biowarfare pathogens, announced today that it has entered into definitive agreements with investors for the sale of 2,725,339 shares of common stock at a price of $7.35 per share. Estimated net proceeds to the Company after deducting estimated offering expenses are $18.6 million. RBC Capital Markets served as lead placement agent and Cowen and Company, LLC acted as co-agent.
The shares described above are being offered pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission on November 18, 2009. The transaction is expected to close on or about December 14, 2009, subject to customary closing conditions. The Company intends to use the net proceeds from the sale of the shares for general corporate purposes, including development of the Companys product candidates, the acquisition or in-license of technologies, products or businesses, working capital and capital expenditures.
A copy of the prospectus supplement incorporating the base prospectus relating to the offering may be obtained by contacting RBC Capital Markets at 3 World Financial Center, 8th Floor, 200 Vesey Street, New York, NY 10281, 212-428-6670. A copy of the prospectus supplement incorporating the base prospectus may also be accessed on the SEC website, www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About SIGA Technologies,
Inc.
SIGA Technologies is applying viral
and bacterial genomics and sophisticated computational modeling in the design
and development of novel products for the prevention and treatment of serious
infectious diseases, with an emphasis on products for biological warfare
defense. SIGA believes that it is a leader in the development of pharmaceutical
agents to fight potential bio-warfare pathogens. SIGA has antiviral programs
targeting smallpox and other Category A pathogens, including arenaviruses (Lassa
fever, Junin, Machupo, Guanarito, Sabia, and lymphocytic choriomeningitis),
dengue virus, and the filoviruses (Ebola and Marburg). For more information
about SIGA, please visit SIGA's web site at http://www.siga.com/.
The SIGA Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4504
Forward-looking
Statements
This press release contains or
implies certain forward-looking statements' within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including statements
regarding the efficacy of potential products, the timelines for bringing such
products to market and the availability of funding sources for continued
development and possible eventual approval of such products. Forward-looking
statements are based on management's estimates, assumptions and projections, and
are subject to uncertainties, many of which are beyond SIGA's control. Actual
results may differ materially from those anticipated in any forward-looking
statement. Factors that may cause such differences include the risks that (i)
potential products that appear promising to SIGA or its collaborators cannot be
shown to be efficacious or safe in subsequent pre-clinical or clinical trials,
(ii) SIGA or its collaborators will not obtain appropriate or necessary
governmental approvals to market these or other potential products, (iii) SIGA
may not be able to obtain anticipated funding for its development projects or
other needed funding, (iv) SIGA may not be able to secure funding from
anticipated government contracts and grants, (v) SIGA may not be able to secure
or enforce sufficient legal rights in its products, including sufficient patent
protection for its products, (vi) any challenge to our patent and other
proprietary rights, if adversely determined, could affect our business and, even
if determined favorably, could be costly, (vii) regulatory approval for SIGA's
products may require further or additional testing that will delay or prevent
approval, (viii) the Biomedical Advanced Research & Development Authority
may not complete the procurement set forth in its solicitation for the
acquisition of a smallpox antiviral for the strategic national stockpile, or may
complete it on different terms; (ix) the volatile and competitive nature of the
biotechnology industry may hamper SIGA's efforts, (x) changes in domestic and
foreign economic and market conditions may adversely affect SIGA's ability to
advance its research or its products, and (xi) changing federal, state and
foreign regulation on SIGA's businesses may adversely affect SIGA's ability to
advance its research or its products. More detailed information about SIGA and
risk factors that may affect the realization of forward-looking statements,
including the forward-looking statements in this press release, is set forth in
SIGA's filings with the Securities and Exchange Commission, including SIGA's
Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and in
other documents that SIGA has filed with the Commission. SIGA urges investors
and security holders to read those documents free of charge at the Commission's
Web site at http://www.sec.gov. Interested parties may also obtain those
documents free of charge from SIGA. Forward-looking statements speak only as to
the date they are made, and, except for any obligation under the U.S. federal
securities laws, SIGA undertakes no obligation to publicly update any
forward-looking statement as a result of new information, future events or
otherwise.
Contact:
Todd Fromer / Marybeth Csaby
KCSA Strategic
Communications
212-896-1215 / 1236 / 1258
Tfromer@kcsa.com /
mcsaby@kcsa.com