Monday, April 06, 2009

BioMimetic stock placement

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) announced today that on April 3 "the Company entered into a definitive purchase agreement with InterWest Partners X, LP, an affiliate of InterWest Partners, one of the Company's existing stockholders, for the private placement of 941,177 shares of its common stock at a price of $8.50 per share. The purchase price represents a significant premium to the market price ($7.45 per share) of the Common Stock on the date of execution of the purchase agreement. The transaction is expected to raise approximately $8.0 million in gross proceeds."

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