New Issue: Rockwell Medical pockets $12.95 million from placement of units

By Devika Patel

Knoxville, Tenn., Nov. 29 - Rockwell Medical Technologies, Inc. has raised $12.95 million from a private placement of units.

The company sold 2,158,337 units at $6.00 apiece. Each unit consists of one common share and one half-share warrant. The warrants are exercisable at $7.18.

Proceeds will be used for development of the company's iron maintenance therapy drug SFP (soluble ferric pyrophosphate).

Wixom, Mich.-based Rockwell Medical is a manufacturer and developer of renal drug therapies.

Issuer:	Rockwell Medical Technologies, Inc.
Issue:	Units of one common share and one half-share warrant
Amount:	$12,950,022
Units:	2,158,337
Price:	$6.00
Warrants:	One half-share warrant per unit
Warrant strike price:	$7.18
Settlement date:	Nov. 29
Stock symbol:	Nasdaq: RMTI
Stock price:	$7.50 at close Nov. 28

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