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| GERN > SEC Filings for GERN > Form 8-K on 9-Oct-2012 | All Recent SEC Filings |
9-Oct-2012
Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exh
On October 8, 2012, Geron Corporation (the "Company") entered into an At-The-Market Issuance Sales Agreement (the "Sales Agreement") with MLV & Co. LLC ("MLV"), pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $50 million from time to time through MLV as its sales agent. The issuance and sale of these shares by the Company under the Sales Agreement, if any, is subject to the effectiveness of the Company's registration statement on Form S-3, File No. 333-182537, filed with the Securities and Exchange Commission ("SEC") on July 3, 2012. The Company makes no assurances as to if or whether this registration statement will become effective or, if it does become effective, as to the continued effectiveness of this registration statement.
MLV may sell the common stock by any method that is deemed to be an "at-the-market" equity offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the "Act"), including sales made directly on or through The NASDAQ Global Select Market or any other existing trading market for the Company's common stock in the United States or to or through a market maker. Subject to the terms and conditions of the Sales Agreement, MLV will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the common stock from time to time, based upon the Company's instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company is not obligated to make any sales of common stock under the Sales Agreement. Unless earlier terminated as provided below, the Sales Agreement will automatically terminate upon the earlier of (1) the sale of all common stock subject to the Sales Agreement and (2) October 8, 2015. The Sales Agreement may be terminated by the Company or MLV at any time upon 10 days notice to the other party, or by MLV at any time in certain circumstances, including the occurrence of a material adverse change in the Company. The Company will pay MLV an aggregate commission rate equal to up to 3.0% of the gross proceeds of the sales price per share for common stock sold through MLV under the Sales Agreement. The Company has also provided MLV with customary indemnification rights and expense reimbursements for up to $20,000 of expenses.
The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the 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.
The Company is filing information for the purpose of supplementing and updating its description of certain risks and uncertainties that could materially adversely affect its business, financial condition or results of operations from the description included under the heading, "Item 1A. Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, filed with the SEC on August 3, 2012. The updated risk factors are filed herewith as Exhibit 99.1 and are incorporated herein by reference.
(d) Exhibits.
Exhibit No. Description
10.1 At-The-Market Issuance Sales Agreement, dated October 8, 2012, by and between
Geron Corporation and MLV & Co. LLC.
99.1 Updated Risk Factors.
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