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Rodman & Renshaw, LLC Acts As Co-Manager To YM Biosciences Inc. In $70 Million Public Offering Of Common Shares

Stocks in this article: RODM

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) acted as co-manager to YM BioSciences Inc. (NYSE Amex: YMI; TSX: YM), a drug development company advancing a diverse portfolio of hematology and cancer related products, today announced the pricing of 35,000,000 common shares at US$2.00 per common share in its previously announced underwritten public offering (the "Offering"). BofA Merrill Lynch is acting as sole book-running manager for the Offering and Wells Fargo Securities, LLC is acting as lead manager. JMP Securities LLC, Collin Stewart LLC, Rodman & Renshaw, LLC and Roth Capital Partners, LLC are acting as co-managers for the Offering. In addition, the Company granted to the underwriters a 30-day option to purchase an additional 5,250,000 common shares. The offering is expected to close on or about February 29, 2012, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to fund its ongoing drug development activities and for general corporate purposes and working capital.

The securities described above are being offered by the Company in the United States pursuant to a registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on July 15, 2011. A preliminary prospectus supplement related to the Offering, along with the accompanying base prospectus, has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to the Offering may be obtained, when available, from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or by e-mail at dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other 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 other jurisdiction.

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