YORK, Pa., Aug. 4, 2014 /PRNewswire/ -- Unilife Corporation
("Unilife" or "Company") (NASDAQ: UNIS; ASX: UNS), a developer and
supplier of injectable drug delivery systems, today announced that
it has completed the At-The-Market (ATM) facility with Cantor
Fitzgerald. The final use of the ATM was completed through a
single block transaction for 5,811,800 shares of common stock
generating net proceeds for the Company of $12.4 million. No further sales of Common
Stock can be made under the ATM facility.
Unilife has been advised that the majority of issued shares
under the final distribution were acquired by a group of large US
institutional investors.
Alan Shortall, CEO of Unilife,
stated: "By completing this ATM facility and raising $12.4 million in net proceeds, we have been able
to further strengthen our balance sheet and offset most of the
one-time acceleration in investments made during the fourth quarter
of fiscal year 2014 to meet increasing demand for our products and
services from pharmaceutical customers.
"As per previous statements we expect that ongoing investments
in capital equipment and R&D during fiscal year 2015 will be
funded by customer payments under existing and upcoming programs,
as well as our long-term debt financing agreement with OrbiMed and
current cash on hand," concluded Mr. Shortall.
About Unilife
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based
developer and commercial supplier of injectable drug delivery
systems. Unilife's broad portfolio includes prefilled syringes with
automatic needle retraction, drug reconstitution delivery systems,
auto-injectors, wearable injectors, intraocular delivery systems
and novel devices. Each of these innovative, differentiated
technology platforms can be customized to address specific
customer, drug and patient requirements. Unilife's global
headquarters and state-of-the-art manufacturing facilities are
located in York, Pennsylvania. For more information, please
visit www.unilife.com or download the Unilife IRapp on your iPhone,
iPad or Android device.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements that address operating performance, events or
developments that we expect or anticipate will occur in the future
are forward-looking statements. These forward-looking
statements are based on management's beliefs and assumptions and on
information currently available to our management. Our management
believes that these forward-looking statements are reasonable as
and when made. However, you should not place undue reliance on any
such forward-looking statements because such statements speak only
as of the date when made. We do not undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. In addition, forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results, events and developments to differ materially from our
historical experience and our present expectations or projections.
These risks and uncertainties include, but are not limited to,
those described in "Item 1A. Risk Factors" and elsewhere
in our Annual Report on Form 10-K and those
described from time to time in other reports which we file with the
Securities and Exchange Commission.
General: UNIS-G
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SOURCE Unilife Corporation