Exhibit 10.1
Subscription
Agreement
Cerus Corporation
2411 Stanwell Drive
Concord, California 94520
Ladies and Gentlemen:
The undersigned (the “
Investor ”) hereby confirms and agrees with Cerus
Corporation, a Delaware corporation (the “ Company
”), as follows:
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1.
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As of the
Closing (as defined below) and subject to the terms and conditions
hereof, the Investor will purchase from the Company and the Company
will issue and sell to the Investor (i) such number of shares
(the “ Shares ”) of common stock of the Company,
par value $0.001 per share (the “ Common Stock
”), and (ii) such number of warrants (the “
Warrants ”) to purchase shares of Common Stock, in
such number of units (the “ Units ”), with each
Unit consisting of (a) one share of Common Stock and
(b) one Warrant to purchase 0.40 of a share of Common Stock
(the “ Warrant Ratio ”), as is set forth on the
signature page hereto (the “ Signature Page ”)
for a purchase price of $2.20 per Unit.
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2.
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The closing is
expected to occur on or about August 25, 2009 (the “
Closing ”) in accordance with Rule 15c6-1 promulgated
under the Securities Exchange Act of 1934, as amended, subject to
the satisfaction of certain closing conditions set forth in the
Placement Agency Agreement dated as of August 19, 2009 (the
“ Placement Agency Agreement ”) entered into by
and between the Company and the placement agent for the Offering
(as defined below). At the Closing, (a) the Company shall
cause the Company’s transfer agent for the Common Stock to
electronically deliver to the Investor through DTC the number of
Shares set forth on the signature page registered in the name of
the Investor or, if so indicated on the signature page, in the name
of a nominee designated by the Investor, (b) the Company shall
cause to be delivered to the Investor a Warrant to purchase a
number of whole shares of Common Stock determined by multiplying
the number of Shares set forth on the signature page by the Warrant
Ratio and rounding down to the nearest whole number and
(c) the aggregate purchase price for the Units being purchased
by the Investor will be delivered by or on behalf of the Investor
to the Company.
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3.
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The offering
and sale of the Units (the “ Offering ”) is
being made pursuant to (i) an effective registration statement
on Form S-3 (File No. 333-154842), including the prospectus
contained therein (the “ Base Prospectus ”),
filed with the Securities and Exchange Commission (the “
Commission ”) on October 30, 2008, (ii) an
automatically effective registration statement (File
No. 333-161214) registering the rights issuable under the
Company’s Stockholder Rights Plan, dated November 3,
1999, filed with the Commission pursuant to Rule 462(b) under the
Securities Act of 1933, as amended (the “ Securities
Act ”), on August 10, 2009, and (iii) a final
prospectus supplement (the “ Prospectus Supplement
”) containing certain supplemental information regarding the
Units and terms of the Offering. The Base Prospectus has been
delivered to the Investor on or prior to the date hereof and has
been filed with the Commission in accordance with applicable
securities laws. The Base Prospectus, together with the documents
incorporated by reference therein and the pricing information set
forth in Schedule I to this Subscription Agreement, are
collectively referred to herein as the “ General
Disclosure Package .”
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4.
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The Company’s obligation to
issue and sell the Units to the Investor shall be subject to the
receipt by the Company of the purchase price for the Units being
purchased hereunder as set forth on the Signature Page and the
accuracy of the representations and warranties made by the Investor
herein
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and the fulfillment of those
undertakings herein of the Investor to be fulfilled prior to the
Closing Date. The Investor’s obligation to purchase the Units
shall be subject to the condition that the placement agent shall
not have (i) terminated the Placement Agency Agreement
pursuant to the terms thereof or (ii) determined that the
conditions to closing in the Placement Agency Agreement have not
been satisfied.
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5.
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The Company
shall before the opening of trading on the Nasdaq Global Market on
the next trading day after the date hereof, issue a press release
and file a Current Report on Form 8-K, together disclosing all
material aspects of the transactions contemplated hereby and
attaching thereto the form of Subscription Agreement and form of
Warrant for this Offering. The Company shall not identify the
Investor by name in any press release or public filing, or
otherwise publicly disclose the Investor’s name, without the
Investor’s prior written consent, unless required by
applicable laws, rules and regulations.
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6.
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The Investor
represents that (i) it has had full access to the General
Disclosure Package prior to or in connection with its receipt of
this Subscription Agreement and is relying only on such information
and documents in making its decision to purchase the Units, and
(ii) it is acquiring the Units for its own account, or an
account over which it has investment discretion, and does not have
any agreement or understanding, directly or indirectly, with any
person or entity to distribute any of the Units.
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7.
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The Investor
and the Company each has the requisite power and authority to enter
into this Subscription Agreement and to consummate the transactions
contemplated hereby.
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8.
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The Investor
represents that neither the Investor nor any person acting on
behalf of, or pursuant to any understanding with or based upon any
information received from, the Investor has, directly or
indirectly, as of the date of this Subscription Agreement, engaged
in any purchases or sales of the securities of the Company or has
violated its obligations of confidentiality with respect to the
Offering since the time that the Investor was first contacted by
the Company or its agents with respect to the transactions
contemplated hereby. The Investor covenants that neither it, nor
any person acting on behalf of, or pursuant to any understanding
with or based upon any information received from, the Investor will
engage in any purchases or sales of the securities of the Company
prior to the time that the transactions contemplated by this
Subscription Agreement are publicly disclosed pursuant to
Section 5 hereof. Notwithstanding the foregoing, in the case
of an Investor and/or its affiliates that is, individually or
collectively, a multi-managed investment bank or vehicle whereby
separate portfolio managers manage separate portions of such
Investor’s or affiliates assets and the portfolio managers
have no direct knowledge of the investment decisions made by the
portfolio managers managing other portions of such Investor’s
or affiliates assets, the representation set forth above shall only
apply with respect to the portion of assets managed by the
portfolio
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