BUFFALO GROVE, Ill.--(BUSINESS WIRE)--March 1, 2006--Akorn, Inc. (AMEX:AKN) today announced that in connection with the private placement previously announced, investors have entered into a definitive agreement to purchase 955,556 shares of its Common Stock at a price of $4.50 per common share, for gross additional proceeds of $4.3 million. The investors will also receive warrants to purchase 334,446 shares of common stock at an exercise price of $5.40 per share. This brings the total gross proceeds of the private placement to approximately $19.4 million, the number of shares of Common Stock to be issued to 4,311,669 shares, and the total number of shares subject to warrants to 1,509,088.
