BioTherapeutics, Inc. PLX, announced today the pricing of its previously announced
underwritten public offering of 4.5 million shares of its common stock at a
price to the public of $5.25 per share. The Company has granted the
underwriters a 30-day option to purchase up to an aggregate of 675,000
additional shares of common stock to cover over-allotments, if any. The
offering is expected to settle and close on February 22, 2012, subject to
customary closing conditions. Jefferies & Company, Inc. is acting as the sole
book-running manager and each of Canaccord Genuity Inc. and Oppenheimer & Co.
Inc. are acting as co-managers for the offering. The Company expects to use
the net proceeds from the sale of the shares primarily to fund clinical trials
for the Company's product candidates, to fund the Company's research and
development activities, to enhance the Company's manufacturing capacity, for
working capital and general corporate purposes.
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