LEWISBERRY, Pa., Dec. 31, 2010 /PRNewswire/ — Unilife
Corporation (Unilife or Company) (Nasdaq:
UNIS; ASX: UNS) announced today that its 2010 Share Purchase
Plan (SPP), which closed on Wednesday, 22 December 2010, was
significantly oversubscribed. The Company has received applications
for approximately 15.1 million new CHESS Depositary Interests
(CDIs) at an issue price of A$0.85 (each CDI representing an
interest in one sixth of a share of the Company’s common stock)
with a value of approximately A$12.8 million.
As announced on 7 December 2010, Unilife offered eligible
shareholders with a registered address in Australia or New Zealand
the opportunity to subscribe for up to A$15,000 worth of CDIs under
the SPP. As a result of the overwhelming demand for CDIs under the
SPP, and to ensure all shareholders that applied under the SPP have
the ability to participate, the Unilife Board has subsequently
authorised an increase in the number of CDIs to be issued under the
SPP.
Initially, up to 8,235,294 CDIs were to be issued to raise up to
A$7 million as disclosed in the Company’s 2010 SPP documentation.
Due to strong demand amongst eligible shareholders, 15,058,920 CDIs
will now be issued to raise approximately A$12.8 million before
costs.
Unilife intends to use the proceeds raised from the SPP for the
purchase of additional capital equipment, for general operations
including moving forward with the development of additional
pipeline products and supporting the 2011 transition of Unilife
into a commercial manufacturer and supplier of its proprietary
medical devices to pharmaceutical and healthcare companies.
Comment from Unilife Chief Executive Officer, Mr Alan
Shortall“The Board and I are very pleased by the
overwhelming support displayed by eligible shareholders applying
for CDIs in the SPP. We received applic
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