LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced closing of a previously announced sale of an aggregate of $18 million of securities in a registered direct offering. BioSante received net proceeds of approximately $16.9 million after deducting placement agent fees and other offering expenses. BioSante sold an aggregate of approximately 10.6 million shares of its common stock and warrants to purchase up to approximately 5.3 million additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.50 of a share of common stock, was sold for a purchase price of $1.70, a premium to the closing price on the prior full trading day before the securities purchase agreements were signed.
