WIXOM, Mich., Sept. 30, 2009 (GLOBE NEWSWIRE) -- Rockwell Medical Technologies, Inc. (Nasdaq:RMTI) announced today that it has obtained commitments from institutional investors to purchase an aggregate of 2,840,000 shares of Rockwell's common stock and warrants to purchase up to 1,079,200 shares of common stock in a registered direct offering for gross proceeds of approximately $22.0 million, before deducting placement agents' fees and estimated offering expenses. The purchase price per unit, consisting of one share and a warrant to purchase 0.38 shares, is $7.75. The warrants will have a five-year term from the date of issuance, will be exercisable beginning six months after the date of issuance, and will be exercisable at a price of $9.55 per share.
