New Issue: Raptor Pharmaceutical announces $7.5 million direct offering of shares

By Devika Patel

Knoxville, Tenn., Dec. 18 - Raptor Pharmaceutical Corp. arranged a $7.5 million registered direct offering of stock, according to a prospectus supplement filed Friday with the Securities and Exchange Commission. Ladenburg Thalmann & Co. Inc. is the agent.

The company will sell 3,747,558 common shares at $2.00 apiece. Investors will also receive two series of warrants. The series A warrants are exercisable for 1,873,779 shares at $2.45 for five years. The series B warrants are exercisable for 1,873,779 shares at $2.45 for 18 months.

Settlement is expected Dec. 22.

Proceeds will be used to fund part of the company's capital expenditure program and for other corporate purposes.

Raptor is a Novato, Calif., biotechnology company that bioengineers novel drugs and drug-targeting platforms derived from the human receptor-associated protein and related proteins.

Issuer:	Raptor Pharmaceutical Corp.
Issue:	Common stock
Amount:	$7,495,116
Shares:	3,747,558
Price:	$2.00
Warrants:	Series A warrants for 1,873,779 shares, series B warrants for 1,873,779 shares
Warrant expiration:	Five years (series A), 18 months (series B)
Warrant strike price:	$2.45
Agent:	Ladenburg Thalmann & Co. Inc.
Pricing date:	Dec. 18
Settlement date:	Dec. 22
Stock symbol:	Nasdaq: RPTP
Stock price:	$2.45 at close Dec. 17
Market capitalization:	$35.6 million

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