LARGO, Fla., April 9 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (Nasdaq: GORX - News) - GeoPharma announces today that it closed a $12.5 million debt and equity financing with a single institutional investor. Of the $12.5 million gross proceeds before placement fees and other costs, GeoPharma issued $10 million of convertible debt, $2.5 million of equity, and warrants. In addition, the investor has the option to invest additional funds in the future. Proceeds of the funding will be used to strengthen the Company's cash position, support sterile injectable and other ongoing generic pharmaceutical expansion including plant infrastructure, equipment expansion, research and development and related generic drug working capital needs. The funding, in which Rodman & Renshaw, LLC acted as the exclusive placement agent, was completed April 5, 2007.
