ULURU Inc. to Raise $1.0 Million in Registered Direct 'At The Market' Offering
February 03 2010 - 7:00AM
PR Newswire (US)
ADDISON, Texas, Feb. 3 /PRNewswire-FirstCall/ -- ULURU Inc. (NYSE
Alternext: ULU), a specialty pharmaceutical company focused on the
development of a portfolio of wound management and oral care
products, today announced it has entered into definitive agreements
to sell 5,000,000 shares of its common stock at a price per share
of $0.20 pursuant to a registered direct offering to institutional
investors, resulting in gross proceeds of $1.0 million. The price
per share represents the closing price of ULURU's common stock on
February 1, 2010. There were no warrants issued to the
institutional investors in this transaction. The closing of the
offering is expected to take place subject to the satisfaction of
customary closing conditions. ULURU Inc. plans to use the net
proceeds from the offering for commercial activities, clinical
studies, and general corporate purposes. Rodman & Renshaw, LLC,
a subsidiary of Rodman & Renshaw Capital Group, Inc.
(NASDAQ:RODM), acted as the exclusive placement agent for this
transaction. The common stock is being offered by ULURU pursuant to
an effective registration statement(s) on Form S-3 filed with the
Securities and Exchange Commission. A prospectus relating to the
offering will be filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities may only be offered by means of a
prospectus. Copies of the prospectus can be obtained directly from
Rodman & Renshaw, LLC at 1251 Avenue of the Americas, 20th
Floor, New York, NY 10020, or from the SEC's website at
http://www.sec.gov/. About ULURU Inc.: ULURU Inc. is a specialty
pharmaceutical company focused on the development of a portfolio of
wound management and oral care products to provide patients and
consumers improved clinical outcomes through controlled delivery
utilizing its innovative Nanoflex(TM) Aggregate technology and
OraDisc(TM) transmucosal delivery system. For further information
about ULURU Inc., please visit our website at
http://www.uluruinc.com/. For further information about
Altrazeal(TM), please visit http://www.altrazeal.com/. This press
release contains certain statements that are forward-looking within
the meaning of Section 27a of the Securities Act of 1933, as
amended, including but not limited to statements made relating to
the anticipated closing of the transaction and the Company's
products. These statements are subject to numerous risks and
uncertainties, including but not limited to ULURU's lack of
profitability, the need for additional capital to operate its
business, and to risk factors detailed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2008, and other
reports filed by us with the Securities and Exchange Commission.
Contact: Company Renaat E. Van den Hooff President & CEO Terry
K. Wallberg Vice President & CFO (214) 905-5145 DATASOURCE:
ULURU Inc. CONTACT: Renaat E. Van den Hooff, President & CEO,
or Terry K. Wallberg, Vice President & CFO, both of ULURU Inc.,
+1-214-905-5145 Web Site: http://www.uluruinc.com/
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