Unilife Corp Completes $10 Million Common Stock Offering

Unilife Corp announced that it has completed the sale of common stock and warrants for gross proceeds of $10 million under a registered direct public offering with Crede CG II, Ltd., a wholly-owned subsidiary of Crede Capital Group, LLC (CCG), a U.S. based accredited, institutional investor. The price paid by CCG is $2.241667 per Unit, which is approximately $0.04 over the closing price of Unilife common stock on February 8th. Each Unit consists of one share of Unilife common stock, and a warrant to purchase one-third of a share of Unilife common stock. Under the Offering, Unilife has issued to CCG 4,460,966 shares of Unilife common stock and warrants to purchase up to an aggregate of 1,486,988 shares of Unilife common stock. The warrants have a five-year term, and are immediately exercisable at a price of $3.00 per share. Shareholder approval is not required to be obtained by Unilife for the issue of the Units to CCG. The Company expects to use the net proceeds from this Offering to fund the continued development and supply of its broad portfolio of injectable drug delivery systems, to purchase and operate capital equipment to expand production, and for working capital and other general corporate purposes.