CAMBRIDGE, Mass., Dec. 21 /PRNewswire-FirstCall/ -- Biopure Corporation today announced the pricing of an underwritten public offering of common stock and warrants. Subject to closing conditions, the underwriters have agreed to purchase 8,800,000 new shares of Biopure common stock and warrants to acquire an additional 8,800,000 new shares. The price for one share and one warrant is $0.68, and the exercise price of each warrant is $0.85. This transaction is expected to close on or about December 27, 2005, resulting in net proceeds to Biopure of approximately $5.0 million assuming no exercise of the warrants issued in the offering. Biopure has granted the underwriters a 30-day option to purchase an additional 1,320,000 shares and 1,320,000 warrants to cover over-allotments.
Biopure intends to use the proceeds from this offering for general corporate and working capital purposes.
Copies of the prospectuses and related prospectus supplement for this offering may be obtained from the managing underwriters, Dawson James Securities, Inc. at 925 South Federal Highway, 6th Floor, Boca Raton, FL 33432 and Noble International Investments, Inc. at 6501 Congress Avenue, Suite 100, Boca Raton, FL 33487.
Biopure Corporation, headquartered in Cambridge, Mass., develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body’s tissues.
Contact: Douglas Sayles Herb Lanzet (Investors) Biopure Corporation H.L. Lanzet Inc. (617) 234-6826 (212)888-4570 IR@biopure.comlanzet@aol.com
Biopure Corporation
CONTACT: Douglas Sayles of Biopure Corporation, +1-617-234-6826,IR@biopure.com; or Herb Lanzet, of H.L. Lanzet Inc., +1-212-888-4570,lanzet@aol.com for Biopure Corporation
Web site: http://www.biopure.com/
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