By Devika Patel
Knoxville, Tenn., Dec. 20 - Osiris Therapeutics Inc. completed an $11.75 million private placement of stock.
The company sold 950,000 common shares at $12.37 apiece.
The shares were placed in Switzerland by Friedli Corporate Finance, Inc. Friedli is owned by Peter Friedli, the chairman of Osiris Therapeutics' board and the company's largest shareholder.
Friedli invested $1.2 million. Additionally, Venturetec, Inc. bought another $1.2 million of the stock.
Proceeds will be used to develop the company's adult stem cell products, including those in phase 3 clinical trials, and for general corporate purposes.
Based in Columbia, Md., Osiris Therapeutics is a stem cell therapeutic company focused on developing and marketing products to treat medical conditions in the inflammatory, orthopedic and cardiovascular areas.
| Issuer: | Osiris Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $11,751,500
|
| Shares: | 950,000
|
| Price: | $12.37
|
| Warrants: | No
|
| Agent: | Friedli Corporate Finance, Inc. (in Switzerland)
|
| Investors: | Peter Friedli (for $1.2 million), Venturetec, Inc. (for $1.2 million)
|
| Pricing date: | Dec. 20
|
| Stock symbol: | Nasdaq: OSIR
|
| Stock price: | $12.00 at close Dec. 19
|
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