GenSpera executes funding

GenSpera (GNSZ) raises $3.33M in a registered public offering of units priced at $0.80 each. Each unit consists of one share of common stock, one-half of a Series A warrant, one Series B warrant and one Series C warrant. All warrants can be exercised immediately.

Series A: convertible into 2.1M shares of common at $1.15. Term: five years.

Series B: convertible into 4.2M shares of common at $0.85. Term: nine months.

Series C: convertible into 4.2M shares of common at $0.85. Term: one year.

Closing date is June 3.

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