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AspenBio Pharma Announces Pricing of Public Offering of 1,476,000 Shares of Common Stock
Date:11/14/2012

CASTLE ROCK, Colo., Nov. 14, 2012 /PRNewswire/ -- AspenBio Pharma, Inc. (Nasdaq: APPY), an in vitro diagnostic company, announced today the pricing of its previously announced underwritten public offering.  The company is offering 1,476,000 shares of common stock at an offering price of $2.10 per share.  The gross proceeds to AspenBio from this offering are expected to be approximately $3.1 million, prior to deducting underwriting discounts and commissions and other estimated offering expenses. AspenBio has also granted the underwriters a 45-day option to purchase up to an additional 221,400 shares of common stock to cover over-allotments, if any. The offering is expected to close on November 20, 2012, subject to customary closing conditions. All of the shares in the offering are to be sold by AspenBio.

AspenBio intends to use the net proceeds from this offering for general corporate purposes, including conducting a clinical trial for its blood-based appendicitis test and for working capital purposes.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

This offering was made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.  A prospectus supplement relating to the offering will be filed with the SEC.  When available, copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained from the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.  Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC at

SOURCE AspenBio Pharma, Inc.
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