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Thursday, December 09, 2004 8:52:50 AM
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Press Release Source: Biopure Corporation
Biopure to Raise $11.6 Million Through Sale of Common Stock and Warrants
Thursday December 9, 8:35 am ET
CAMBRIDGE, Mass., Dec. 9 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR - News) announced today that it has obtained commitments to purchase approximately $11.6 million of its common stock and warrants, for anticipated net proceeds to Biopure of approximately $10.5 million. Under the terms of the transaction, Biopure expects to sell 40 million shares of its common stock at $0.29 per share to institutional and individual investors and to issue these investors warrants to purchase 20 million shares of its common stock at an exercise price of $0.31 per share. If exercised, the warrants would provide Biopure with additional proceeds. The offering is expected to close on December 14, 2004.
Press Release Source: Biopure Corporation
Biopure to Raise $11.6 Million Through Sale of Common Stock and Warrants
Thursday December 9, 8:35 am ET
CAMBRIDGE, Mass., Dec. 9 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR - News) announced today that it has obtained commitments to purchase approximately $11.6 million of its common stock and warrants, for anticipated net proceeds to Biopure of approximately $10.5 million. Under the terms of the transaction, Biopure expects to sell 40 million shares of its common stock at $0.29 per share to institutional and individual investors and to issue these investors warrants to purchase 20 million shares of its common stock at an exercise price of $0.31 per share. If exercised, the warrants would provide Biopure with additional proceeds. The offering is expected to close on December 14, 2004.
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