Tough Day For Nanogen Shareholders

Shares of San Diego, CA-based Nanogen Inc. had a rough day on 5 February 2007. NGEN closed at $1.54 after a previous close of $1.78. Trading volume was 2,485,612 shares versus a three-month trailing average of 427,842 shares.

Nanogen announced that it had entered into a "securities purchase agreement with certain institutional investors." The Investors purchased an aggregate of 4,916,667 shares along with warrants to purchase an additional 983,333 shares. Excluding the warrants, gross proceeds to Nanogen will be $7,571,667. After deducting "transaction fees," Nanogen will receive net proceeds of $7,193,083.

Exercises
  1. NGEN closed down $_______ on 5 February 2007.

  2. No or Yes: NGEN's trading volume on 5 February 2007 was more than five-times its three-month trailing average.

  3. Nanogen sold NGEN shares to institutional investors at a price of $________ per share.

  4. Nanogen will pay approximately ________% of its gross proceeds for "transaction fees."


Creator: Gerald D. Thurman [gthurman@gmail.com]
Created: 05 February 2007

Creative Commons License
This work is licensed under a Creative Commons License.