Wednesday June 6, 5:25 pm Eastern Time
Press Release
SOURCE: BioTransplant Incorporated
BioTransplant Incorporated Announces Commitment for $17.8 Million
Private Placement
CHARLESTOWN, Mass., June 6 /PRNewswire/ -- BioTransplant Incorporated (Nasdaq: BTRN - news) today announced
that it has commitments from selected institutional and accredited investors to consummate a private placement of
approximately 2.83 million shares of newly issued common stock, at a purchase price of $6.30 per share, for aggregate gross
proceeds of approximately $17.8 million.
Pending consummation of the private placement, the Company intends to use the proceeds from the sale of its common stock
to advance its immune modulation therapy programs encompassing the clinical development of its AlloMune(TM) family of
product candidates, the expansion of development and commercialization of its Eligix Cell Separation Systems and to provide it
with working capital for other general corporate purposes.
The shares of common stock to be sold in this private placement have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States, except pursuant to an effective registration statement or an
applicable exemption from registration requirements. Pending consummation of the private placement, the Company expects to
promptly file a resale registration statement on Form S-3 for purposes of registering the resale of the shares of common stock.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the common stock. This press release
is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Contacts:
BioTransplant Incorporated Noonan/Russo Communications, Inc.
Richard Capasso Prateek Patnaik (Media), x273
Vice President, Finance & Treasurer Sharon Weinstein (Investor), x334
617-241-5200 212-696-4455
biotransplant.com noonanrusso.com
SOURCE: BioTransplant Incorporated |
