PETERSBURG, Va.--(BUSINESS WIRE)--Star Scientific, Inc. (Nasdaq:STSI), today announced that on March 13 and March 14, 2008, it entered into and closed definitive purchase agreements with institutional investors for the private placement of 4,838,711 shares of its common stock at $1.55 per share and 3,311,259 shares of its common stock at $1.51 per share, respectively. The transactions also included warrants to purchase and aggregate of 8,149,970 shares of common stock at an exercise price of $2.00 per share, which expire five years from the date the warrants are first exercisable.
