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BioDelivery Sciences International Inc to raise $60 mln in registered direct offering from institutional investors

Monday, 10 Feb 2014 07:00am EST 

BioDelivery Sciences International Inc:Says it has entered into a definitive securities purchase agreement with a select group of institutional investors led by Federated Kaufmann under which such investors have committed to purchase $60 million of BDSI's common stock in a registered direct offering.Says under the terms of the securities purchase agreement, it will sell an aggregate of 7,500,000 shares of its common stock at a price of $8.00 per share.Says the offering is expected to be consummated on or before Feb. 12.Says the lead investor is Federated Kaufmann, a family of mutual funds, along with three current institutional holders.