Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > pSivida Announces Sale of American Depositary Shares and Warrants

Abstract:
pSivida Limited (NASDAQ:PSDV, ASX:PSD, Xetra:PSI), today announced that on June 29, 2007 it entered into definitive agreements to raise approximately US$18.0 million (A$21.3 million) in gross proceeds in a registered direct offering through the sale of its NASDAQ-traded ADSs (American Depositary Shares) and warrants to purchase ADSs, including US$6.5 million (A$7.7 million) to Pfizer Inc. Pfizer's investment is pursuant to the terms of the Collaborative Research and License Agreement, dated as of April 3, 2007.

pSivida Announces Sale of American Depositary Shares and Warrants

Boston, MA. and Perth, Australia | Posted on July 2nd, 2007

The Company estimates that net proceeds from the offering will be approximately US$16.3 million (A$19.4 million), after deducting placement agent fees and estimated offering expenses. pSivida has entered into subscription agreements with primarily institutional investors pursuant to which it has agreed to sell a total of 14,402,000 units, for a purchase price of US$1.25 (A$1.48) per unit.

Each unit consists of (i) one ADS, representing ten ordinary shares, and (ii) one warrant to purchase 0.40 ADSs, with a warrant exercise price of US$1.65 (A$1.96) per ADS. Units will not be issued or certificated. The ADSs and warrants are immediately separable and will be issued separately. The warrants will be exercisable from the date of issuance through the fifth anniversary of the issuance. The closing of the transaction is scheduled to occur on or about July 5, 2007, subject to the satisfaction of customary closing conditions, except that the closing of the sale of units to Pfizer will occur on or about July 13, 2007. Cowen and Company, LLC, acted as lead placement agent and JMP Securities LLC acted as co-agent in this offering.

The ADSs and warrants were offered under pSivida's effective shelf registration statement previously filed with the Securities and Exchange Commission on March 6, 2007, which registration statement became effective on March 9, 2007. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement together with the accompanying prospectus can be obtained at the SEC's website at http://www.sec.gov or from the offices of Cowen and Company, LLC c/o ADP, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department (631) 254-7106.

####

About pSivida Limited
pSivida is a global bio-nanotech company committed to the development of drug delivery products in the healthcare sector, initially in ophthalmology and oncology.

pSivida is committed to the development of drug delivery products in the healthcare sector, initially in ophthalmology and oncology. pSivida has developed the only two FDA approved sustained release back of the eye treatments for chronic eye disease, Vitrasert® and Retisert®. Both products are manufactured and sold by global ophthalmology company, Bausch & Lomb.

A next generation product, Medidur™ is licensed for ophthalmic applications to Pfizer Inc. Alimera Sciences has also licensed Medidur™ for the treatment of Diabetic Macular Edema, the leading cause of vision loss for Americans under the age of 65, which is presently in Phase III clinical trials.

pSivida owns the right to develop and commercialize a new biomaterial, nanostructured porous silicon (BioSilicon™), for multiple potential applications in healthcare with a core focus on drug delivery. The lead BioSilicon™ product is BrachySil™, a brachytherapy treatement in Phase II clinical trials, which is being developed for the treatment of inoperable pancreatic cancer.

pSivida's strategic partner is QinetiQ (QQ.), the former United Kingdom Government Defence Evaluation & Research Agency (DERA) and Europe's largest research and development organization.

pSivida is listed on NASDAQ (PSDV), Australian (PSD), and Frankfurt (PSI) stock exchanges and is a member of the NASDAQ Health Care Index (Nasdaq: IXHC) and the Merrill Lynch Nanotechnology Index.

For more information, please click here

Contacts:
Released by:
pSivida Limited
Brian Leedman
Vice President
Investor Relations
pSivida Limited
Tel: + 61 8 9327 8905


US Public Relations
Beverly Jedynak
President
Martin E. Janis & Company, Inc
Tel: +1 (312) 943 1100 ext. 12


European Public Relations
Eva Reuter
Accent Marketing Limited
Tel: +49 (254) 393 0740

Copyright © pSivida Limited

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

Nanometrics to Participate in the Citi 2015 Global Technology Conference August 26th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation August 20th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Nanomedicine

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

A new technique to make drugs more soluble August 28th, 2015

These microscopic fish are 3-D-printed to do more than swim: Researchers demonstrate a novel method to build microscopic robots with complex shapes and functionalities August 26th, 2015

Glitter from silver lights up Alzheimer's dark secrets August 25th, 2015

Announcements

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

A new technique to make drugs more soluble August 28th, 2015

Nanocatalysts improve processes for the petrochemical industry August 28th, 2015

Nanolab Technologies LEAPS Forward with High-Performance Analysis Services to the World: Nanolab Orders Advanced Local Electrode Atom Probe (LEAP®) Microscope from CAMECA Unit of AMETEK Materials Analysis Division August 27th, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic