TARRYTOWN, N.Y., Aug. 17 /PRNewswire-FirstCall/ -- Emisphere
Technologies, Inc. (Nasdaq: EMIS) announced today that it has entered into
agreements to sell 2.0 million shares of common stock and warrants to
purchase 0.4 million shares of common stock, at a purchase price of $3.785
per unit. The five-year warrants will be exercisable at any time after the
six month anniversary of issuance at an exercise price of $3.948 per share.
The securities in this transaction were offered by Emisphere pursuant
to an effective shelf registration statement and a registration statement
filed pursuant to Rule 462(b) promulgated under the Securities Act of 1933,
as amended.
ThinkEquity Partners LLC acted as sole placement agent, and WBB
Securities LLC acted as financial consultant. Proceeds from the offering
will be used by Emisphere for general corporate purposes, including further
development of its lead clinical programs. The transaction is expected to
close on or about August 22, 2007, subject to the satisfaction of customary
closing conditions.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in this offering, nor will
there be any sale of these securities in any jurisdiction in which such
offer solicitation or sale are unlawful prior to registration or
qualification under securities laws of any such jurisdiction.
The offer is being made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. When available, a final prospectus can be obtained from
Emisphere Technologies, Inc., 765 Old Saw Mill River Road, Tarrytown, New
York 10591; telephone, (914) 785-4717 or from the U.S. Securities and
Exchange Commission at http://www.sec.gov.
About Emisphere Technologies, Inc.
Emisphere Technologies, Inc. is a biopharmaceutical company that
focuses on a unique and improved delivery of therapeutic molecules and
pharmaceutical compounds using its eligen(R) technology. These molecules
and compounds could be currently available or are in pre-clinical or
clinical development. Such molecules or compounds usually cannot be
delivered by the oral route of administration or the benefits of these
compounds are limited due to poor bioavailability, slow on-set of action or
variable absorption. The eligen(R) technology can be applied to the oral
route of administration as well other delivery pathways, such as buccal,
per rectum, pulmonary, intra-vaginal or transdermal. The Web site is:
http://www.emisphere.com.
SOURCE Emisphere Technologies, Inc.
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Related links:
http://www.emisphere.com
CONTACT:
Bob Madison, Corporate Communications of
Emisphere Technologies, Inc., +1-914-593-8360
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