By Sheri Kasprzak
New York, June 12 - Acusphere, Inc. is gearing up to close a $20,004,972 registered direct placement of units.
A group of institutional investors plans to buy 7,694,220 units at $2.60 each.
The units include one share and one warrant for four-tenths of a share. The whole warrants are exercisable at $3.10 each through June 15, 2012. The warrants will not be exercisable until Dec. 15, 2007.
The underlying shares are being sold under the company's shelf registration.
Cowen & Co., LLC was the placement agent.
Based in Watertown, Mass., Acusphere is a pharmaceutical company focused on developing new drugs and improving formulations of existing drugs.
| Issuer: | Acusphere, Inc.
|
| Issue: | Units of one share and one warrant for four-tenths of a share
|
| Amount: | $20,004,972
|
| Units: | 7,694,220
|
| Price: | $2.60
|
| Warrants: | One warrant for four-tenths of a share per unit
|
| Warrant expiration: | June 15, 2012
|
| Warrant strike price: | $3.10
|
| Placement agent: | Cowen & Co., LLC
|
| Announcement date: | June 12
|
| Stock symbol: | Nasdaq: ACUS
|
| Stock price: | $2.60 at close June 11
|
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