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Rockwell Medical Inc To Raise $12.9 Million In Registered Direct Common Stock Offering


Wednesday, 20 Mar 2013 09:07am EDT 

Rockwell Medical Inc announced that it has entered into definitive agreements to sell 4,300,000 common shares at $3.00 per share in a registered direct offering for an aggregate offering amount of approximately $12.9 million. The net proceeds from the offering, after commissions and other estimated offering expenses, will be approximately $12.0 million. The closing of the offering is expected to take place on or before March 25, 2013, subject to the satisfaction of customary closing conditions. Rockwell Medical plans to use the net proceeds from the offering for general corporate purposes which may include research and development expenses, acquisition of intellectual property relating to complementary drug therapies, funding of clinical trials, and general administrative expenses. Chardan Capital Markets, LLC served as the lead placement agent for the offering and Newbridge Securities, LLC acted as co-placement agent. 

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