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Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
Date:5/8/2012

SAN DIEGO, May 8, 2012 /PRNewswire/ -- Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced that its majority shareholder, Novogen Limited, has exercised rights to acquire $4 million of Units, subject to availability, in Marshall Edwards' ongoing rights offering following approval at a meeting of Novogen stockholders in Sydney on Monday.

Pursuant to the rights offering, Marshall Edwards distributed one subscription right for each share of common stock owned to holders of record as of 5:00 p.m., Eastern time, on March 30, 2012. Each subscription right entitles the holder to purchase one Unit, which consists of 0.5 shares of the Company's common stock and a warrant to purchase 0.25 shares of the Company's common stock. Holders of the Company's outstanding Series A warrants also received one subscription right for each share of common stock issuable pursuant to such warrants.

The offering also includes an over-subscription privilege, which entitles stockholders to purchase additional Units that remain unsubscribed at the expiration of the rights offering. If the offering is fully subscribed, gross proceeds will be approximately $7.6 million, before deducting fees and expenses. Marshall Edwards intends to use the net proceeds from the offering primarily to continue the clinical development of its two lead oncology drug candidates, ME-143 and ME-344.

The rights offering will expire at 5:00 p.m., Eastern time, on Friday, May 11, 2012.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Marshall Edwards, Inc. nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the secur
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SOURCE Marshall Edwards, Inc.
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