Alteon Announces Entry Into Definitive Documents for the Sale of $25 Million in a Private Financing of Its Series B Preferred Stock

Published: Apr 09, 2007

MONTVALE, N.J., April 9 /PRNewswire-FirstCall/ -- Alteon Inc. (Amex: ALT - News) announced today that it has entered into a definitive agreement with institutional investors that are experienced in the biotechnology industry under which the Company has agreed to sell and issue $25 million in shares of its Series B Preferred Stock and warrants to purchase 25% of the amount of Series B Preferred Stock that it plans to issue in the financing.

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