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Hyseq Pockets $15M in Private Stock Placement

Apr 10, 2002

NEW YORK, April 10 - Hyseq Pharmaceuticals said yesterday it has pocketed about $15 million in a private stock placement.

Investors, which included new and existing institutional investors, bought roughly 3.6 million shares of newly issued common stock at $4.20 per share.

Hyseq said it also issued warrants to the investors to buy approximately 894,000 additional shares for $5.67 apiece, or a 35 percent premium to the per-unit purchase price. 

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