WIXOM, Mich., March 20, 2013 (GLOBE NEWSWIRE) -- Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today that it has entered into definitive agreements to sell 4,300,000 common shares at $3.00 per share in a registered direct offering for an aggregate offering amount of approximately $12.9 million. The net proceeds from the offering, after commissions and other estimated offering expenses, will be approximately $12.0 million. The closing of the offering is expected to take place on or before Monday, March 25, 2013, subject to the satisfaction of customary closing conditions. Rockwell Medical plans to use the net proceeds from the offering for general corporate purposes which may include research and development expenses, acquisition of intellectual property relating to complementary drug therapies, funding of clinical trials, and general administrative expenses.
Chardan Capital Markets, LLC served as the lead placement agent for the offering and Newbridge Securities, LLC acted as co-placement agent.
The shares of common stock described above were offered pursuant to an effective shelf registration statement as filed with the Securities and Exchange Commission. A prospectus supplement relating to the offering was filed with the Securities and Exchange Commission on March 20, 2013. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained by contacting Rockwell Medical, Inc. c/o Investor Relations at 30142 S. Wixom Road, Wixom, Michigan 48393. Electronic copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov.This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock of Rockwell Medical and shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Rockwell Medical in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer of these securities will be solely by means of a prospectus included in the registration statement and a prospectus supplement that will be issued in connection with such offering.
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