HORSHAM, Pa.--(BUSINESS WIRE)--Neose Technologies, Inc. (Nasdaq:NTEC) today announced that it has closed its previously announced private placement. The Company sold 21,415,447 shares of common stock and warrants to purchase 9,636,950 shares of its common stock at a price of $2.02 per unit. Each unit consists of one share of common stock and a warrant to purchase 0.45 shares of common stock. The warrants have a term of five years and an exercise price of $1.96 per share. The Company realized gross proceeds of approximately $43.3 million. Both new and existing investors participated in the private placement.
