RALEIGH, N.C., April 2 /PRNewswire/ -- CLOSURE Medical Corporation
(Nasdaq: CLSR), today announced the completion of its sale of 1,500,000 shares
of Common Stock at a price of $12.875 per share. Of these shares,
800,000 were offered by the Company and 700,000 by a stockholder of the
Company. In addition, Lehman Brothers, Oppenheimer & Co., Inc., and Sands
Brothers & Co., Ltd., the managing underwriters of the offering, exercised
their option to purchase an additional 225,000 of shares of Common Stock at
the offering price.
CLOSURE develops, commercializes and manufactures medical tissue cohesive
products based on its proprietary cyanoacrylate technology. CLOSURE's
nonabsorbable products may be used to replace sutures and staples for certain
topical wound closure applications, while its absorbable products can
potentially be used as surgical sealants and surgical tissue cohesives for
internal wound closure and management. Currently marketed products include
Octyldent, used in conjunction with antibiotics to treat adult periodontal
disease, and Nexaband, a line of topical tissue cohesives used in veterinary
wound closure and management.
To receive CLOSURE's latest news release and other corporate documents
via FAX -- at no cost -- dial 1-800-PRO-INFO. Use Company's ticker-CLSR.
SOURCE CLOSURE Medical Corporation
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CONTACT:
Robert V. Toni, President & CEO, or J. Blount
Swain, CFO, both of CLOSURE Medical Corporation, 919-876-7800; or
General: Paul G. Henning, Analysts: Brian Gill, or Media: Deanne
Eagle, all of The Financial Relations Board, 212-661-8030
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