Replies to post #18803 on BioSante Pharmaceuticals, Inc. (BPAX)

[scstocks]

yikes, it's four days short of the day you started this board, and it looks like you still know how to call it!!!

hope you are doing well, updated sig photo and all, ha......

[Mo-John]

Reasonable assessment. I couple of weeks ago I would have laughed if you said the price would hit 1.20! Now going under a buck is clearly possible and perhaps likely. I am watching and waiting for the final, final floor. Another reverse split? Lots of POed shareholder!

[surf1944]

9:30AM BioSante to raise $3.475 mln in registered direct offering (BPAX) 1.57 +0.02 : Co announced that it has received a commitment from an institutional investor to purchase $3,475,000 of securities in a registered direct offering. BioSante expects to receive net proceeds of approximately $3.3 million after deducting placement agent fees and other offering expenses. BioSante has entered into a securities purchase agreement with this investor pursuant to which BioSante has agreed to sell 2,359,932 shares of its common stock and warrants to purchase up to 1,179,966 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.5 of a share of common stock, will be sold for a purchase price of $1.4725, a premium to the closing price on the day before pricing. The warrants to purchase additional shares will be exercisable at an exercise price of $1.50 per share beginning immediately and will expire five years from their date of issuance. Proceeds from the transaction will be used for general corporate purposes, including increasing its cash reserve for payment of its 3.125% convertible senior notes due May 1, 2013 and to fund its LibiGel clinical activities.