ADDISON, Texas, Jan. 18, 2011/PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU), a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products, today announced the successful closing of its registered direct offering, whereby the Company sold 5,000,000 shares of its common stock at a price per share of $0.10, resulting in gross proceeds of approximately $500,000.
The investor also received a warrant to purchase up to 1,750,000 shares of ULURU Inc.'s common stock. The warrants have an exercise price of $0.102 per share and are exercisable at any time on or after six months from the closing date and for a period of five years thereafter.
The shares and warrants in this offering are being issued under a shelf registration statement declared effective by the Securities and Exchange Commission (the “SEC”) on July 23, 2009. A prospectus supplement related to the public offering was filed with the SEC on January 5, 2011.
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex Aggregate technology and OraDisc transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.ULURUinc.com. For further information about Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended. These statements are subject to numerous risks and uncertainties, including but not limited to ULURU’s lack of profitability, the need for additional capital to operate its business, and to risk factors detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009, and other reports filed by us with the Securities and Exchange Commission.
Contact: Company | |
Kerry P. Gray | |
President & CEO | |
Terry K. Wallberg | |
Vice President & CFO | |
(214) 905-5145 | |
SOURCE ULURU Inc.
