OXiGENE sells $12M in warrants, shares crumble

• OXiGENE (OXGN) has agreed to sell $12M worth of units to investors for $2.05 a piece.
• Each unit consists of one share and 0.5 of a five-year warrant to purchase another share.
• The warrants have an exercise price of $2.75 a share and will be exercisable immediately.
• OXiGENE's shares dive 25.7% to $2.05. (PR)