MALVERN, Pa.--(BUSINESS WIRE)--Dec. 15, 2005--Orthovita, Inc. (NASDAQ NM:VITA), a leading developer of orthopedic biomaterials, announced that yesterday it completed a registered direct offering of 4,318,182 shares of its common stock to select institutional investors. The shares priced at $3.00 per share, resulting in proceeds to the Company, before expenses, of approximately $13.0 million. Magnetar Capital Master Fund, Ltd was the lead investor in this offering. The Company intends to use the net proceeds from the offering for product development, to increase product inventory, expansion of its sales force and general corporate purposes.
