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Cellectis Redeeming Bonds for $66M

NEW YORK (GenomeWeb News) – Cellectis today announced it is redeeming all bonds issued on Nov. 3, 2011 into shares for a total of €50 million ($66 million).

The bonds were issued to FSI, or Fonds Stratégique d'Investissement, and industrialist Pierre Bastid.

The bonds are being redeemed into a total of 6.25 million shares of Cellectis stock at €8 per share. The redemption follows three consecutive trading days when Cellectis' stock exceeded €8 per share, the Paris-based gene engineering firm said.

Its board of directors is also issuing FSI and Bastid a total of 54,660 additional shares, split evenly between the two parties, of Cellectis stock at a price of €7.8392 per share, the company said.

After the redemption, Cellectis will have a total of 20.4 million outstanding shares. FSI and Bastid each hold almost 3.2 million shares, or about 15 percent of Cellectis' outstanding shares.

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