Hco Long Polos Ferragamo Handbags pSivida raises $11m in placemen Ferragamo, agreement, companies, receiving, partner

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Perth-based biotechnology company pSivida Ltd will raise around $11 million through a placement to pay off a convertible note debt,Ferragamo Handbags, one day after receiving a promise from collaborative partner Pfizer Inc for a further $6.1 million share purchase.The licence agreement between the two companies could have been termintated were pSivida not to have paid off the loan.  The full text of a company announcement is pasted belowpSivida Ltd is pleased to announce the private placement of 40,Ferragamo Flat Men,957,050 million fully paid ordinary shares issued at 26.95 cents each to raise approximately $11 million before costs,Ferragamo Mango Boat Men, to US and European investors. Each two shares will be issued with one free attaching option at an exercise price of 26.95 cents and a term of four years. The issue price was equal to the five day volume weighted average closing price of pSivida's ordinary shares on the ASX through March 30 2007, which was the last trading day prior to the closing of the recently announced exclusive worldwide Collaborative Research and License Agreement with Pfizer Inc for pSivida's controlled drug delivery technologies including the Medidur technology in ophthalmic applications. Placements to US investors were made pursuant to Regulation D under the US Securities Act and placement to non-US investors were made pursuant to Regulation S under that Act. HPC Capital Management Corp,Hco Long Polos, a South Eastern United States based investment bank, acted as the sole placement agent. "The placement of these shares together with proceeds received under our new agreements with Pfizer allows the Company to retire the Convertible Note debt held by Castlerigg Master Investments Ltd (Sandell), which was announced yesterday, thus placing the Company on much better financial footing,Belstaff SUNGLASSES," said Dr Paul Ashton,Ugg Bailey Button, Managing Director, pSivida Ltd.
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