ULURU Inc. Announces Closing Of $2,000,000 Private Placement
ADDISON, Texas, Dec. 27, 2012 /PRNewswire/ -- ULURU Inc. (NYSE
AMEX: ULU), a specialty pharmaceutical company focused on the
development of a portfolio of wound management and oral care
products, today announced the completion of a definitive agreement
to sell 5,000,000 shares of its common stock at a price per share
of $0.40 pursuant to a previously
announced private placement offering to a strategic investor,
resulting in gross proceeds of $2,000,000. ULURU Inc. plans to use the
proceeds from the offering for research and development and general
corporate purposes.
The investor will also receive a warrant to purchase up to
3,000,000 shares of ULURU Inc.'s common stock. The warrants have an
exercise price of $0.60 per share and
are exercisable at any time on or after 180 days from the closing
date and for a period of one year from the date of closing.
Under the terms of the definitive agreement, the purchase and
sale of the shares and warrants will take place at four closings
over the next twelve months, with $400,000 being funded upon signing of the
definitive agreement.
The shares of common stock to be issued and any shares issued
resulting from the exercise of warrants have not been registered
under the Securities Act of 1933 and may not be sold absent
registration or an applicable exemption from the registration
requirements.
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused
on the development of a portfolio of wound management and oral care
products to provide patients and consumers improved clinical
outcomes through controlled delivery utilizing its innovative
Nanoflex™ Aggregate technology and OraDisc™ transmucosal delivery
system. For further information about ULURU Inc., please
visit our website at www.ULURUinc.com. For further
information about Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements that are
forward-looking within the meaning of Section 27a of the Securities
Act of 1933, as amended, including but not limited to statements
made relating to the anticipated closing of the transaction and the
Company's products. These statements are subject to numerous risks
and uncertainties, including but not limited to ULURU's lack of
profitability, the need for additional capital to operate its
business, and to risk factors detailed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2011, and other reports filed by us
with the Securities and Exchange Commission.
Contact: Company
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
(214) 905-5145
SOURCE ULURU Inc.