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Company News Summary

Unilife Corporation Completes $10m Common Stock Offering

12 Feb 2013  |  09:56:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Unilife Placement to Crede Capital

Unilife Corporation announced that it has completed the sale of common stock and warrants (the "Units") for gross proceeds of $10m under a registered direct public offering with Crede CG II, a wholly-owned subsidiary of Crede Capital Group (CCG), a US-based accredited, institutional investor. The price paid by CCG is $2.241667 per Unit. Each Unit consists of one share of Unilife common stock and a warrant to purchase one-third of a share of Unilife common stock. Under the offering, the company has issued to CCG 4.46m shares of common stock and warrants to purchase up to an aggregate of 1.49m shares of common stock. The warrants have a five-year term and are immediately exercisable at a price of $3.00 per share. The company expects to use the net proceeds to fund the continued development and supply of its broad portfolio of injectable drug delivery systems, to purchase and operate capital equipment to expand production, and for working capital.

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