PharmAthene Announces Closing of $15 Million Offering

PharmAthene, Inc. (PIP) today announced that it has closed its previously announced registered public offering of 4,300,000 shares of its common stock at a price to the public of $3.50 per share. The Company expects that the offering will yield proceeds, before expenses, of approximately $14.1 million and intends to use the net proceeds of the offering for repayment of debt and general corporate purposes.