Navigation Links
ULURU Inc. Enters Into Strategic Financings of Up to $1.6 Million at a Premium to Current Share Price
Date:9/15/2011

ADDISON, Texas, Sept. 15, 2011 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU), a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products, today announced it has entered into agreements for investment commitments with Ironridge Global BioPharma and its affiliates ("Ironridge"), under which Ironridge has committed in two transactions, subject to certain conditions, to purchase common and preferred stock totalling up to $1.6 million. One of the transactions includes a purchase of up to $650,000 in convertible, redeemable, preferred stock with a 7.5% dividend. The preferred stock is convertible into shares of the Company's common stock at a minimum conversion price of $0.70, which represents a premium of approximately 37 percent over the closing price on September 14, 2011. In the second financing, the Company may issue up to $969,000 of registered common stock, subject to certain conditions, at a price per share equal to $ 0.50, 102% of the closing bid price of the Company's common stock on September 14, 2011, in exchange for cash or a secured promissory note issued by the investor.

Commenting on the financing, Kerry P. Gray, President and CEO of ULURU, stated, "The structure of these financings provides ULURU with the necessary capital without dilution associated with discounted stock offerings that include substantial warrant coverage. Ironridge provides us with the opportunity to partner with a source of capital to execute our business plan. This capital will be used to expand our commercialization activities, prepare for the extension of our product line including Altrazeal® Collagen and Altrazeal® Silver, and place us in a stronger position negotiating with strategic partners."

The registered offering of common stock is being made pursuant to a prospectus supplement included as part of a shelf registration statement filed with the Securities and Exchange Commission ("SEC") that was declared effective on July 23, 2009. A prospectus supplement related to the registered direct offering will be filed with the SEC. Copies of the prospectus supplement together with the accompanying prospectus can be obtained at the SEC's website at http://www.sec.gov. This announcement is neither an offer to sell nor a solicitation of an offer to buy any shares of common stock of the Company. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

About ULURU Inc.:

ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.uluruinc.com. For further information about Altrazeal®, please visit www.Altrazeal.com.

About Ironridge:

Ironridge is a public equity firm that brings traditional private equity financial sophistication to small cap public companies. By supplying innovative financing solutions and flexible capital, Ironridge Global seeks to unlock the full potential of cash-constrained businesses. The firm's core objective is to propel high growth companies in building a faster growing and more profitable enterprise.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended. These statements are subject to numerous risks and uncertainties, including but not limited to delays in the completion of the financings; the ability of Ironridge to pay the principal balance of the promissory note upon maturity; the Company's ability to continue the commercialization and development of its products and to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, and other reports filed by us with the Securities and Exchange Commission.

Contact: Company
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
(214) 905-5145


'/>"/>
SOURCE ULURU Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. ULURU Inc. Announces the Commencement of First Clinical Study Using Altrazeal(TM) Silver
2. ULURU Inc. to Present Altrazeal(TM) Clinical Evidence and Advanced Therapeutic Research at the Diabetic Foot Global Conference (DFCon) 2009
3. ULURU Inc. Announces Conference Call to Discuss Financial Results for the Third Quarter Ended September 30, 2009 and to Provide a Business Update
4. ULURU Inc. Invited to Present Altrazeal(TM) Research at 10th Annual Wound Healing Science and Industry Conference
5. ULURU Inc. Obtains Status of Approved Supplier With McKesson.
6. ULURU Inc. Reports Second Quarter 2010 Financial Results
7. ULURU Inc. Announces Conference Call
8. ULURU Inc. Provides AltrazealĀ® Clinical Update
9. ULURU Inc. Reports Third Quarter 2010 Financial Results
10. ULURU Inc. to Raise $500,000 in Registered Direct Offering
11. ULURU Inc. Announces Agreement With Exciton to Develop Antimicrobial Dressing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 2016 Research and Markets has announced ... report to their offering. ... a favourable commercial environment for MedImmune to enter. The US ... will serve to drive considerable growth for effective anti-influenza medications. ... cap sales considerably, but development is still in its infancy. ...
(Date:6/23/2016)... MOUNTAIN VIEW, Calif. , June 23, 2016 ... 9:00 a.m. CST on Thursday, July 7, 2016 , , ... kayla.belcher@frost.com ) , , , , EXPERT PANELISTS:  ... Sciences, Nitin Naik; Senior Industry Analyst, Christi Bird; Senior Industry Analyst, ... The global pharmaceutical industry is witnessing ...
(Date:6/23/2016)... , June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate ... in Latin America . ... ... ... ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a ... can give their videos a whole new perspective by using the title layers ... Film Studios. , ProSlice Levels contains over 30 Different presets to choose from. ...
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library ... City Observer , brings up a new, often overlooked aspect of head lice: the parasiteā€™s ... for fumigation is not a common occurrence, but a necessary one in the event that ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. ... his M.D from the David Geffen School of Medicine at UCLA. He trained in ... to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he ...
(Date:6/25/2016)... Montreal, Canada (PRWEB) , ... June 25, 2016 , ... ... the pursuit of success. In terms of the latter, setting the bar too high ... low, risk more than just slow progress toward their goal. , Research from ...
Breaking Medicine News(10 mins):