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Advanced Life Sciences Enters Into Definitive Securities Purchase Agreements for $20 Million with New and Existing Institutional Investors
Date:12/11/2007

CHICAGO, Dec. 11 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation, today announced that it entered into definitive securities purchase agreements dated December 10, 2007, to raise approximately $20 million of gross proceeds through a private placement of approximately 10.2 million shares of common stock and warrants to purchase approximately 5.1 million shares of common stock to a group of new and existing institutional investors. The purchase price for each share of common stock is $1.90 and the warrants are exercisable from the date of grant until the fifth anniversary of such date at an exercise price of $2.15 per share of common stock. The financing is expected to close on or about December 13, 2007.

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The shares sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from applicable registration requirements. The shares were offered and sold only to institutional investors. The Company has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued in the private placement as well as the shares issuable upon the exercise of the warrants. Lazard Freres & Co. LLC acted as the lead placement agent with Susquehanna Finan
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SOURCE Advanced Life Sciences Holdings, Inc.
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