Sangamo BioSciences Prices Public Offering Of 6.10 Mln Shares At $10.58/shr

(RTTNews) - Sangamo BioSciences Inc. (SGMO) announced the sale of 6.10 million shares of its common stock in an underwritten public offering at a price to the public of $10.58 per share, the closing price of the stock on the previous day.

The company expects the gross proceeds from the public offering to be approximately $65 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 915,000 shares of common stock on the same terms and conditions, to cover over-allotments, if any. The offering is expected to close on or about September 23, 2013, subject to customary closing conditions.

The company anticipates using the net proceeds from this offering for general corporate purposes, including support for its continuing research and development of its ZFP Therapeutic product candidates and research programs, commercialization activities, clinical trials, business development activities and, if opportunities arise, acquisitions of businesses, products, technologies or licenses that are complementary to its business.