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Unilife Receives SPP Applications Exceeding A$12.8 Million
Date:12/31/2010

LEWISBERRY, Pa., Dec. 31, 2010 /PRNewswire/ -- Unilife Corporation (Unilife or Company) (Nasdaq: UNIS; ASX: UNS) announced today that its 2010 Share Purchase Plan (SPP), which closed on Wednesday, 22 December 2010, was significantly oversubscribed. The Company has received applications for approximately 15.1 million new CHESS Depositary Interests (CDIs) at an issue price of A$0.85 (each CDI representing an interest in one sixth of a share of the Company's common stock) with a value of approximately A$12.8 million.

As announced on 7 December 2010, Unilife offered eligible shareholders with a registered address in Australia or New Zealand the opportunity to subscribe for up to A$15,000 worth of CDIs under the SPP. As a result of the overwhelming demand for CDIs under the SPP, and to ensure all shareholders that applied under the SPP have the ability to participate, the Unilife Board has subsequently authorised an increase in the number of CDIs to be issued under the SPP.

Initially, up to 8,235,294 CDIs were to be issued to raise up to A$7 million as disclosed in the Company's 2010 SPP documentation. Due to strong demand amongst eligible shareholders, 15,058,920 CDIs will now be issued to raise approximately A$12.8 million before costs.  

Unilife intends to use the proceeds raised from the SPP for the purchase of additional capital equipment, for general operations including moving forward with the development of additional pipeline products and supporting the 2011 transition of Unilife into a commercial manufacturer and supplier of its proprietary medical devices to pharmaceutical and healthcare companies.

Comment from Unilife Chief Executive Officer, Mr Alan Shortall"The Board and I are very pleased by the overwhelming support displayed by eligible shareholders applying for CDIs in the SPP. We received applic
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SOURCE Unilife Corporation
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