Navigation Links
Palatin Technologies, Inc. Announces Pricing of $35 Million Private Placement of Common Stock and Warrants
Date:7/2/2012

CRANBURY, N.J., July 2, 2012 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE MKT: PTN) today announced that it has entered into a definitive securities agreement and priced a private placement of 3,873,000 shares of its common stock, Series A warrants to purchase 31,988,151 shares of its common stock, and Series B warrants to purchase 35,488,380 shares of its common stock.  Funds under the management of QVT Financial LP have agreed to pay $0.50 for each share of common stock and $0.49 for each Series A warrant and each Series B warrant, resulting in gross proceeds to Palatin of $35,000,000, with net proceeds, after deducting estimated offering expenses, of approximately $34,500,000.

The private placement is expected to close on or about July 5, 2012, subject to customary closing conditions.

Palatin intends to use the proceeds from this offering for general corporate purposes and working capital, including its clinical trial program with bremelanotide for female sexual dysfunction, preclinical and clinical development of its melanocortin receptor-1 peptide program, preclinical and clinical development of its PL-3994 program and preclinical and clinical development of other portfolio products.

Both Series A and Series B warrants are exercisable at an initial exercise price of $0.01 per share.  The Series A warrants are exercisable immediately upon issuance and expire on the tenth anniversary of the date of issuance.  The Series B warrants are also exercisable immediately upon issuance, but only if Palatin's stockholders increase the number of its authorized shares of common stock, and expire on the tenth anniversary of the date of the increase in the number of authorized shares.  Both the Series A warrants and the Series B warrants are subject to limitation on exercise if the holder and its affiliates would beneficially own more than 9.99% of the total number of Palatin's shares of common stock following such exercise.
'/>"/>

SOURCE Palatin Technologies, Inc.
Copyright©2012 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3

Related biology technology :

1. Palatin Technologies, Inc. to Report Fiscal Year 2012 First Quarter Results; Teleconference and Webcast to be held on November 15, 2011
2. Palatin Technologies, Inc. Reports First Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on November 15, 2011
3. Palatin Technologies to Present at Windhovers Therapeutic Area Partnerships Conference
4. Palatin Technologies, Inc. to Present at the 24th Annual ROTH OC Growth Stock Conference
5. Palatin Technologies, Inc. To Report Fiscal Year 2012 Third Quarter Results; Teleconference and Webcast to be held on May 14, 2012
6. Palatin Technologies, Inc. Reports Third Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on May 14, 2012
7. Palatin Technologies Announces Halting of Phase I Clinical Trial of Obesity Compound in AstraZeneca Research Collaboration
8. OrthoAccel® Technologies, Inc. Announces Definitive Distribution Agreement in Italy
9. Senesco Technologies, Inc. to Webcast, Live, at RetailInvestorConferences.com on December 1st
10. Animal Biotechnology - Technologies, Markets and Companies
11. Gene Therapy - Technologies, Markets and Companies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/22/2013)... Oven Industries announces the new 5R1-1400 AC ... a PC through the TTL level UART Communication port. ... square can deliver up to 15 AMPS of load ... state relay. Operator safety is achieved with 1KV of ... sensor input. Specifications: Input Voltage 85 to 265VAC ...
(Date:5/22/2013)... 2013 The Conference Forum ... to Advance Clinical Trials conference taking place on September ... MA. , Disruptive thinkers from Novartis, Pfizer, Eli ... bold approaches to reduce expensive infrastructure, engage patients and ... to be big, or novel, or it must change ...
(Date:5/22/2013)... and NEW ORLEANS , May ... the field of regenerative medicine, presented new data generated ... Analysis Group (a leading health economics consultancy) demonstrating the ... ulcers (DFU) and venous leg ulcers (VLU) place upon ... of this research, which reveal annual costs of up ...
(Date:5/22/2013)... (PRWEB) May 22, 2013 Mold remediation could ... said that there is a way to cut down the ... on its latest post the details of a method ... money. , Mold could be prevented, My Cleaning Products said. ... company stated that a mold remediation must then be promptly ...
Breaking Biology Technology:New AC Temperature Controller Announced by Oven Industries 2Disruptive Innovation Hits Clinical Trials, Dedicated Event Launches 2Organogenesis Presents Findings from Groundbreaking Research Highlighting the Healthcare Resource and Economic Burden of Venous Leg Ulcers and Diabetic Foot Ulcers 2Organogenesis Presents Findings from Groundbreaking Research Highlighting the Healthcare Resource and Economic Burden of Venous Leg Ulcers and Diabetic Foot Ulcers 3Organogenesis Presents Findings from Groundbreaking Research Highlighting the Healthcare Resource and Economic Burden of Venous Leg Ulcers and Diabetic Foot Ulcers 4How to Kill Mold While Saving Thousands of Dollars on Mold Remediation Projects Explained by My Cleaning Products 2
... ST. PAUL, Minn., Jan. 3 /Xinhua-PRNewswire/ --,WuXi ... provider of pharmaceutical R&D,outsourcing services, has signed ... Services, Inc. (AppTec). The acquisition of AppTec ... and expertise,gain a significant U.S. operational footprint, ...
... Pharmos Corporation,(Nasdaq: PARS ) announced today ... private placement of its 10% Convertible Debentures due ... $4,000,000 principal amount of the,Debentures, at par, and ... The purchasers consisted of certain existing investors in ...
... Jan. 3 TAP Pharmaceutical Products,Inc. today announced the ... Food and Drug Administration (FDA) for the use of ... and maintenance of,patients with erosive esophagitis and non-erosive reflux ... novel delivery system., "This compound and its novel ...
Cached Biology Technology:WuXi PharmaTech to Acquire AppTec Laboratory Services, Inc. 2WuXi PharmaTech to Acquire AppTec Laboratory Services, Inc. 3WuXi PharmaTech to Acquire AppTec Laboratory Services, Inc. 4WuXi PharmaTech to Acquire AppTec Laboratory Services, Inc. 5Pharmos Corporation Completes Initial Closing of Private Placement 2
(Date:5/21/2013)... of Illinois at Chicago College of Medicine will study gender ... its main energy source -- and how changes in fat ... $2 million, 4-year grant from the National Heart, Lung and ... uses fuel for energy. These changes may play a major ... in men and women, says E. Douglas Lewandowski, director of ...
(Date:5/21/2013)... Chemical Society (ACS), the world,s largest scientific society, ... Meeting & Exposition, September 8-12, 2013, in Indianapolis, ... Convention Center and at area hotels. , With ... span science,s horizons from astronomy to zoology ... online journalists a rich assortment of spot news ...
(Date:5/21/2013)... experts , Where? Copenhagen, Denmark: Bella ... June 2013 , Why? An ... and policy developments, manufacturing and installation, drawing on leading ... its 2013 edition from a record of more than ... than 240 plenary and oral presentations, more than 460 ...
Breaking Biology News(10 mins):Do men's and women's hearts burn fuel differently? 221st European Biomass Conference and Exhibition 221st European Biomass Conference and Exhibition 321st European Biomass Conference and Exhibition 4
... of Engineering and Applied Science have developed a way ... "greener" fuel alternative to diesel and gasoline from ... current production methods. The findings, ... Microbiology , mark an important advance in the production ...
... 17, 2010 -- University of Miami (UM) Rosenstiel School of ... a new tool to monitor coral reef vital signs. By ... climate change and other ecological threats impact coral reef health ... March 2009 experiment at Cayo Enrique Reef in Puerto Rico, ...
... you have time to quickly swipe your pager or cell phone ... of most of the bacteria. And a simple tissue moistened with ... for a single swipe of a ,dirty, phone you,d be ... highlights of a recently published research study that appeared online in ...
Cached Biology News:UCLA researchers engineer E. coli to produce record-setting amounts of alternative fuel 2Study provides new tool to monitor coral reef 'vital signs' 2Bacterial wipes research study 2