Curis, Inc. announced today that it has priced a registered direct
offering of 6,449,288 units, at a price of $2.52 per unit, for gross
proceeds of $16.25 million before deducting placement agents’ fees and
estimated offering expenses. Each unit consists of one share of the
company's common stock and a warrant to buy 0.25 of a share of the
company's common stock. The warrants will be exercisable for a period of
five years beginning on the date of issuance, at an exercise price of
$3.55 per share. The closing of the offering is expected to take place
on or about January 27, 2010, subject to the satisfaction of customary
closing conditions. RBC Capital Markets is acting as the sole lead
placement agent and Rodman & Renshaw, LLC, a wholly owned subsidiary of
Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), as co-agent in this
offering.
The company intends to use the net proceeds of the offering for general
corporate purposes, including but not limited to conducting further
preclinical testing and clinical studies of its product candidates,
including CUDC-101, and its other proprietary targeted cancer small
molecule compounds; for capital expenditures; and working capital.