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Solta Medical to Raise $17.2 Million in Private Placement
Date:1/8/2010

HAYWARD, Calif., Jan. 8 /PRNewswire/ -- Solta Medical, Inc. (Nasdaq: SLTM) today announced that it has obtained commitments from accredited institutional investors to purchase approximately $17.2 million of its common stock and warrants in a private placement. The financing was led by existing investor Longitude Capital and new investor Great Point Partners along with participation from other existing investors. Solta has entered into a securities purchase agreement with the investors pursuant to which Solta will sell an aggregate of 8,259,704 shares of its common stock and warrants to purchase up to 4,264,852 additional shares of common stock. Each unit, consisting of one share of common stock and a warrant to purchase one-half of a share of common stock, will be sold for a purchase price of $2.02, equal to the closing price of the common stock as reported on the Nasdaq Global Market on January 6, 2010. The private placement is subject to customary closing conditions and is expected to close within a week's time. Morgan Keegan & Company, Inc. acted as the sole placement agent and FTN Equity Capital Markets Corporation acted as a financial advisor.

Proceeds from the private placement are expected to be used for general corporate and working capital purposes, as well as to opportunistically pursue strategic initiatives.

The warrants will be exercisable at an exercise price equal to $2.121, which represents a 5% premium over the closing price of the common stock as reported on the Nasdaq Global Market on January 6, 2010. The warrants are exercisable commencing on the six-month anniversary of the closing and will expire five and a half years from the date of issuance.

The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities l
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SOURCE Solta Medical, Inc.
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