By Sheri Kasprzak
New York, June 6 - Osiris Therapeutics, Inc. negotiated a private placement of stock for $20 million.
The company plans to sell 1,757,469 shares at $11.38 each, mostly to institutional investors based in Switzerland led by Peter Friedli, chairman of Osiris's board of directors and owner of Friedli Corporate Finance, Inc.
Another investor in the offering was New Venturetec, Inc., another company in which Friedli is involved.
Proceeds will be used for the development of the company's adult stem cell products.
Baltimore-based Osiris develops stem cell therapies to treat inflammatory, orthopedic and cardiovascular disorders.
| Issuer: | Osiris Therapeutics, Inc.
|
| Issue: | Stock
|
| Amount: | $20 million
|
| Shares: | 1,757,469
|
| Price: | $11.38
|
| Warrants: | No
|
| Investors: | Friedli Corporate Finance, Inc. and New Venturetec, Inc.
|
| Pricing date: | June 6
|
| Stock symbol: | Nasdaq: OSIR
|
| Stock price: | $11.60 at close June 6
|
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