© Reuters. Intrexon sets up equity facility with VC firm founded by CEO Kirk
- Intrexon (NYSE:XON) enters into a Preferred Stock Equity Facility with an affiliate of Third Security, LLC, a venture capital firm founded by Chairman and CEO Randal Kirk.
- Under the facility, the company, at is discretion, may sell up to $100M of newly issued Series A Redeemable Preferred Stock that yields 8% per year. The stock will be convertible into common shares based on a 20-day volume-weighted average price, contingent on shareholder approval. The facility will be available through April 30, 2019. The preferred stock will be redeemable after December 31, 2020.
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