News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

BioSante Pharmaceuticals, Inc. (BPAX) Closes $3,475,000 Registered Direct Offering



8/21/2012 9:39:10 AM

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced the closing of the sale of 2,359,932 shares of its common stock and warrants to purchase up to 1,179,966 additional shares of its common stock in a registered direct offering, resulting in gross cash proceeds to BioSante of $3,475,000. BioSante received net proceeds of approximately $3.3 million after deducting placement agent fees and other offering expenses. Each unit, consisting of one share of common stock and a warrant to purchase 0.5 of a share of common stock, was sold to one institutional investor for a purchase price of $1.4725, which was a premium to the closing price on the day before pricing. The warrants are exercisable immediately at an exercise price of $1.50 per share and will expire on August 17, 2017.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES