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.
Rockwell Medical To Raise $12.9 Million In Registered Direct Common Stock Offering
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