EX-99.1
Published on September 24, 2009
Exhibit 99.1
Contacts:
Corporate:
Steven D. Rubin
305 575 6015
Corporate:
Steven D. Rubin
305 575 6015
OPKO Health Announces $30 Million Private Placement
MIAMI, FL, September 22, 2009 (BUSINESS WIRE) OPKO Health, Inc. (NYSE AMEX:OPK) today announced
that it has entered into definitive agreements to raise an aggregate of $30 million in a
private placement transaction. Under the terms of the investment, the Company agreed to issue
approximately 1.2 million shares of an 8.0% Series D Cumulative Convertible Preferred Stock,
par value $0.01, at a purchase price of $24.80 per share, and warrants to purchase an
aggregate of approximately 3 million shares of the Companys common stock. Shares issued in
the investment, including the shares of the Companys common stock into which the preferred
shares and warrants may be converted, are subject to a three year contractual lockup, with no
registration rights.
This financing transaction provides the Company with additional financial resources to fund
acquisitions and support bringing the Companys projects and pipeline of novel drugs and products
to market, said Phillip Frost, M.D., Chairman and CEO.
For more information, see the Companys Current Report on Form 8-K to be filed with the Securities
and Exchange Commission on or before September 24, 2009.
About OPKO Health, Inc.
Miami-based OPKO is a specialty healthcare company involved in the discovery, development, and
commercialization of proprietary pharmaceutical products, medical devices, vaccines, diagnostic
technologies and imaging systems. Initially focused on the treatment and management of
ophthalmologic diseases, OPKO has since expanded into other areas of major unmet medical need such
as oncology, infectious diseases, and neurological disorders.
This press release contains forward-looking statements, as that term is defined under the Private
Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such
as expects, plans, projects, will, may, anticipates, believes, should, intends,
estimates, and other words of similar meaning, including statements regarding our ability to fund
acquisitions and bring the Companys projects and pipeline of novel drugs and products to market,
our product development efforts, as well as other non-historical statements about our expectations,
beliefs or intentions regarding our business, technologies and products, financial condition,
strategies or prospects. Many factors could cause our actual activities or results to differ
materially from the activities and results anticipated in forward-looking statements. These factors
include those described in our filings with the Securities and Exchange Commission, as well as
risks inherent in funding, developing and obtaining regulatory approvals of new,
commercially-viable and competitive products and treatments. In addition, forward-looking
statements may also be adversely affected by general market factors, competitive product
development, product availability, federal and state regulations and legislation, the regulatory
process for new products and indications, manufacturing issues that may arise, patent positions and
litigation, among other factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not undertake any obligation to
update forward-looking statements. We intend that all forward-looking statements be subject to the
safe-harbor provisions of the PSLRA.