SIGA Announces Successful Completion Of Rights Offering; Funding Of Loan; Completion Of Payment Of PharmAthene Obligation

SIGA Technologies, Inc. ("SIGA" or the "Company") (OTCMKTS:SIGA) today announced the successful completion of its previously announced rights offering (the "Rights Offering"), pursuant to which it raised approximately $35.3 million through the sale of 23,523,195 shares of its common stock. The final subscription price was $1.50 per share. Through basic subscriptions and oversubscriptions, the Rights Offering was fully subscribed and the Company did not need to draw on the commitment made by the parties to the previously disclosed backstop agreement.

The Company also announced the funding of its previously disclosed loan agreement, which, together with the proceeds of the Rights Offering , and with the use of cash on hand, enabled the Company today to satisfy, in its entirety, the remaining portion of PharmAthene, Inc.'s judgment against the Company.

"This marks a significant milestone for SIGA. The Company has now fully satisfied the prior judgment, and is poised for future growth," said CEO Phil Gomez.

ABOUT SIGA TECHNOLOGIES, INC.

We are a company specializing in the development and commercialization of solutions for serious unmet medical needs and biothreats. Our lead product is Tecovirimat, TPOXX®, also known as ST-246®, an orally administered antiviral drug that targets orthopoxvirus infections. While TPOXX® is not yet approved as safe and effective by the U.S. Food & Drug Administration, it is a novel small-molecule drug that is being delivered to the Strategic National Stockpile under Project BioShield. In August 2016, the company announced completion of enrollment and dosing in the second and final cohort of healthy subjects for the Phase III clinical study of TPOXX®. For more information about SIGA, please visit SIGA's web site at  www.siga.com.

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