CAMBRIDGE, Mass., Nov. 6 /PRNewswire-FirstCall/ -- Biopure Corporation
(Nasdaq: BPUR) announced today the closing of an underwritten public
offering of stock and warrants that raised net proceeds to Biopure of
approximately $14.9 million assuming no exercise of the warrants. Biopure
sold 19,377,500 new shares of its common stock and warrants to acquire an
additional 19,377,500 shares, including 2,527,500 shares and 2,527,500
warrants granted to the underwriters to cover over-allotments. The price
for one share and one warrant was $0.85 and the exercise price of each
warrant is $1.0625. The 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.
Dawson James Securities, Inc. acted as the managing underwriter for the
public offering. Biopure intends to use the proceeds from this offering for
general corporate and working capital purposes.
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 Herb Lanzet (Investors), H.L.
Lanzet Inc., +1-212-888-4570, lanzet@aol.com, for Biopure
Corporation
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