CHARLOTTE, N.C., March 19, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) announced that it has entered into definitive securities purchase agreements with several of its existing institutional and accredited investors to raise approximately $12.5 million, before placement agent fees and offering expenses. At closing, Chelsea will issue approximately 2.6 million shares of its common stock at $4.72 per share along with warrants to purchase up to approximately 794,000 additional shares of common stock. The warrants have a five-year term and are immediately exercisable at a price of $5.66 per share. The financing is expected to close on or about March 22, 2007, subject to customary closing conditions. Leerink Swann & Company served as placement agent with ThinkEquity Partners acting as financial advisor for the offering.
