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Accentia Biopharmaceuticals brings in $8.7mm privately

Executive Summary

Accentia Biopharmaceuticals (develops already-approved drugs for additional conditions) has raised $8.7mm by selling new and existing institutional investors preferred stock that converts into common shares at $2.67 apiece. The buyers also received short-term warrants (exercisable either 30 days after the company unveils the results of a Phase III rhinosinusitis study of SinuNase or during the 30 days after December 2, 2008) and six-year warrants to buy shares at $2.67 each. Rodman & Renshaw was the exclusive placement agent.
Deal Industry
  • Biotechnology
  • Medical Devices
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Equity
    • Private Placement

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