GREENWOOD VILLAGE, Colo.,
April 19, 2011 /PRNewswire/ -- Ampio
Pharmaceuticals, Inc. (OTC Bulletin Board: AMPE)("Ampio") announced
today the successful completion of a private placement from which
Ampio received gross proceeds of $12.732
million. Fordham Financial Management, Inc.,
New York, New York, acted as the
placement agent in the offering. Ampio sold 5,092,880 of its
shares of common stock in the placement, with no investor warrants
or convertible securities attached. The proceeds of the placement
will be used to facilitate and further the completion and analysis
of data for ongoing and multiple future clinical trials, and for
general corporate purposes. "This financing exceeded our
expectations and was oversubscribed. We look forward to applying
the majority of these funds to development of our lead drug
candidates and medical device," said Don
Wingerter, CEO of Ampio.
Ampio also announced that it will file today a resale
registration statement with the United States Securities and
Exchange Commission (the “SEC”). The registration
statement registers for resale the 1,281,852 shares of Ampio common
stock issued on February 28, 2011
following conversion of all outstanding Ampio convertible
debentures, as well as 4,760,380 of the shares of common stock sold
in the placement. The selling securityholders are under no
obligation to sell the common stock on effectiveness of the
registration statement.
The registration statement relating to these securities has not
yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time a registration
statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any state or jurisdiction. The prospectus
contained in the registration statement is available or will be
available online at www.sec.gov or by request to the Company at
5445 DTC Parkway, P4, Greenwood Village,
Colorado 80111, Attention: Investor Relations, telephone
(303) 418-1000.
About The Placement
Further information regarding the placement is available in the
Current Report on Form 8-K that Ampio will file, or has filed, with
the SEC today.
About Ampio
Ampio Pharmaceuticals, Inc. develops innovative proprietary
drugs for metabolic disease, eye disease, kidney disease, male
sexual dysfunction, inflammation, and CNS disease. The
product pipeline includes new uses for previously approved drugs
and new molecular entities ("NMEs"). By concentrating on
development of new uses for previously approved drugs, approval
timelines, costs and risk of clinical failure are reduced because
these drugs have strong potential to be safe and effective while
their shorter development times can significantly increase near
term value. A key strategy includes actively exploring partnership,
licensing and other collaboration opportunities to maximize Ampio's
product development programs.
Forward-Looking Statements
Ampio's statements in this press release that are not historical
fact and that relate to future plans or events are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include our
expectation of registering the shares sold in the placement in a
timely manner and the intended use of the proceeds of the
placement. Forward-looking statements involve risks and
uncertainties, such as unexpected delays in the registration
process, changes in business conditions that require changes in the
use of placement proceeds, and similar events. The risks and
uncertainties involved include the Company's inability to achieve
operating cash flow without raising additional capital,
insufficient funding to achieve internal milestones, as well as
other risks detailed from time to time in Ampio's filings with the
Securities and Exchange Commission, including Ampio's Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q.
Contact:
Investor Relations
Ampio Pharmaceuticals, Inc.
303-418-1000
SOURCE Ampio Pharmaceuticals, Inc.