Akorn, Inc.

Pharmaceutical firm announces $14.1M private placement

Published in Lab Business Week, September 26th, 2004

Akorn, Inc., (AKRN.OB) announced that it has entered into definitive agreements with institutional and other accredited investors with respect to the private placement of 141,000 shares of its Series B 6% participating convertible preferred stock at a conversion price of $2.70 per common share, for gross proceeds of $14.1 million.

Investors also will receive warrants to purchase approximately 1.6 million shares of common stock at an exercise price of $3.50 per share. Leerink Swann & Company served as placement agent for the transaction.

This transaction is expected to be consummated within the next few days following satisfaction of certain customary...

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Source: Lab Business Week (2004-09-26)

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