Biopure Corp.

Company raises $7M from sale of common stock

Published in Health Business Week, October 15th, 2004

Biopure Corp. (BPUR) announced that it has raised approximately $7.0 million in net proceeds through the sale of 21,371,461 shares of its class A common stock at $0.39 per share to institutional and individual investors.

The company also issued these investors warrants to purchase an aggregate of 10,685,730 shares of its common stock at an exercise price of $0.42 per share, which if exercised would provide Biopure with additional proceeds of approximately $4.5 million.

Under Biopure's current operating plan the company believes that its cash on hand should fund operations through January 2005. The company intends to aggressively manage its expenses...

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Source: Health Business Week (2004-10-15)

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