CAMBRIDGE, Mass., Nov. 1 /PRNewswire-FirstCall/ -- Biopure Corporation
(Nasdaq: BPUR) announced today the pricing of an underwritten public
offering of stock and warrants. Subject to closing conditions, the
underwriters have agreed to purchase from the company 16,850,000 new shares
of Biopure common stock and warrants to acquire an additional 16,850,000
new shares. The price for one share and one warrant is $0.85, and the
exercise price of each warrant is $1.06. This transaction is expected to
close on or about November 6, 2007, resulting in net proceeds to Biopure of
approximately $13.0 million assuming no exercise of the warrants issued in
the offering. These warrants have a five-year term and are callable by
Biopure after six months provided that the weighted average price of
Biopure's common stock for ten consecutive days is over $1.59. Biopure has
granted the underwriters a 45-day option to purchase an additional
2,527,500 shares and 2,527,500 warrants to cover over- allotments.
Biopure intends to use the proceeds from this offering for general
corporate and working capital purposes.
Copies of the prospectuses and related prospectus supplement for this
offering may be obtained from the managing underwriter, Dawson James
Securities, Inc. at 925 South Federal Highway, 6th Floor, Boca Raton, FL
33432.
Biopure Corporation
Biopure Corporation develops, manufactures and markets pharmaceuticals,
called oxygen therapeutics, that are intravenously administered to deliver
oxygen to the body's tissues.
Contact: Tiana Gorham Herb Lanzet (Investors)
Biopure Corporation H.L. Lanzet Inc.
(617) 234-6826 (212) 888-4570
IR@biopure.com lanzet@aol.com
SOURCE Biopure Corporation
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Related links:
http://www.biopure.com
http://www.prnewswire.com/comp/131224.html /
CONTACT:
Tiana Gorham of Biopure Corporation,
+1-617-234-6826, IR@biopure.com, or Investors, Herb Lanzet of
H.L. Lanzet Inc., +1-212-888-4570, lanzet@aol.com
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