BELGRADE, Mont., May 3, 2011 /PRNewswire/ -- Bacterin International Holdings, Inc. ("Bacterin") (NYSE Amex: BONE), a developer of revolutionary bone graft material, today announced that, subject to NYSE Amex approval, Bacterin has raised $1,874,502 in a private placement transaction. The transaction was funded in two tranches and priced at market value on the date each tranche was submitted to NYSE Amex for approval. In addition to shares of common stock, investors also received warrants to purchase 40 percent of the common shares purchased in the private placement at the closing price. The warrants are exercisable over the next five years, subject to a six month holding period. Bacterin intends to use proceeds from the private placement for working capital and to increase production capacity in light of growing demand for its existing and newly launched products.
The securities in Bacterin's private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Bacterin International Holdings, Inc.
BACTERIN INTERNATIONAL HOLDINGS, INC. ("the "Company" or "Bacterin") develops, manufactures and markets biologics products to domestic and international markets. Bacterin's proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold and promote bone and other tissue growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries.
Bacterin's Medical Device division develops
|SOURCE Bacterin International Holdings, Inc.|
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