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Bacterin International Holdings, Inc. Completes Merger and $7.5 Million Raise
Date:7/1/2010

d certain principal and interest outstanding under their notes into the private placement at a 10 percent discount to the purchase price therein, being $1.44 per share, and received warrants with a 10% discounted exercise price of $2.25.  The Company intends to use the cash proceeds of approximately $4,000,000 from the capital raise to pay expenses associated with the merger and private placement and for working capital, including the expansion of its sales force.

Following the completion of the merger and the initial closing under the private placement, the Company now has approximately 34.4 million shares outstanding and 44.9 million fully diluted shares.  

Middlebury Securities, LLC, a wholly owned subsidiary of Middlebury Group, LLC acted as sole placement agent in connection with the private placement.

"Today launches a new era for our company.  The funds raised will be utilized to expand our sales force and increase our marketing activities," commented Guy Cook, president and founder of Bacterin and the president and CEO of the newly merged Company.  "Our scientifically advanced biologic products, which we believe provide superior surgical outcomes in a more cost effective manner, are FDA approved and reimbursed by all insurance providers, and as of May 2010, available in over 6,000 medical institutions.  With the cash infusion from this raise, we will be able to accelerate the build-out of our biologics direct sales force to address the growing demand for our revolutionary bone graft material allowing us to remain confident in achieving our forecasted revenue and profit goals. The increase in our planned sales efforts will effectively support the achievement of the company's revenue go
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SOURCE Bacterin International, Inc.
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