LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--BioSante Pharmaceuticals, Inc. (Amex: BPA) today announced that it has entered into definitive agreements with institutional and other accredited investors with respect to the private placement of 2,754,999 million shares of its common stock at a purchase price of $6.00 per share, for expected gross proceeds of approximately $16.5 million, before payment of placement agent commissions and offering expenses. Investors also will receive warrants to purchase 688,750 shares of common stock at an exercise price of $8.00 per share. Rodman & Renshaw, LLC is serving as lead placement agent with Oppenheimer & Co. Inc. serving as an additional placement agent for the transaction. The transaction is expected to be completed upon approval of an additional listing application by the American Stock Exchange.
