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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 21, 1998
0-27352
(Commission File Number)
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HYBRIDON, INC.
(Exact name of registrant as specified in its charter)
Delaware 3072298
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(State of Incorporation) (IRS Employer
Identification Number)
620 Memorial Drive, Cambridge, Massachusetts 02139
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(Address of registrant's principal executive office)
(617) 528-7000
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(Registrant's telephone number)
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ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
On April 21, 1998, as part of a private placement (the "Offering"),
Hybridon, Inc. (the "Company") sold $300,000 in principal amount of Notes due
2007 (the "Offering Notes"), and warrants (the "Warrants") to purchase common
stock, par value $.001 per share, of the Company, pursuant to the terms of the
Offering described in its Current Report on Form 8-K, and the press release
filed as an exhibit thereto, dated January 22, 1998 (the "January 22, 1998
8-K"). The Offering Notes were issued at face value in offshore transactions
pursuant to Regulation S promulgated under the Securities Act of 1933, as
amended (the "Securities Act"). The purchasers of the Offering Notes were
accredited investors (as defined in Regulation D promulgated under the
Securities Act).
The terms of conversion of the Offering Notes and the terms of the
Warrants are described in the January 22, 1998 8-K.
The net proceeds to the Company from the Offering are presently intended
to be used for general corporate purposes, primarily research and product
development activities, including costs of preparing Investigational New Drug
applications and conducting preclinical studies and clinical trials, the payment
of payroll and other accounts payable and for debt service required under the
Company's debt obligations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
HYBRIDON, INC.
By: /s/ E. ANDREWS GRINSTEAD, III
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Name: E. Andrews Grinstead, III
Title: Chairman of the Board,
President and Chief
Executive Officer
Date: April 27, 1998