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Press Release - IsoRay, Inc. (ISR-AMEX)
Cesium-131 is a radioisotope in the low dose range that is placed in a tumor, alongside a tumor or in the tumor bed where the tumor has been removed. This allows the radiation to kill the cancer right at its source and destroy any cancer that may remain in the margins left by a surgeon. Cesium competes with two other low-dose radiation isotopes, those being iodine and palladium... - Dwight Babcock (Interview published September 16, 2011)
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ISR | 10/13/2011 6:15:00 PM
RICHLAND, Wash., Oct 13, 2011 (BUSINESS WIRE) --
IsoRay, Inc. (AMEX: ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications, announced today the execution of an underwriting agreement with WestPark Capital, Inc., as managing underwriter, to sell approximately $2.3 million in common stock and warrants to purchase shares of common stock which, if fully exercised, will raise an additional approximate $460,000. IsoRay has also granted the underwriters a 45-day option to purchase up to an additional 1,027,173 shares of common stock and warrants to purchase up to an additional 205,435 shares of common stock to cover over-allotments, if any.
The offering is expected to close on or about October 14, 2011 subject to customary closing conditions.
This press release
does not constitute an offer to sell or the solicitation of offers
to buy any security and shall not constitute an offer, solicitation,
or sale of any security in any jurisdiction in which such offer,
solicitation, or sale would be unlawful. A shelf registration
statement relating to the common
stock and warrants to be issued in the
offering has been filed with the Securities and Exchange Commission
and has become effective. A prospectus supplement related to the
offering will be filed with the Securities and Exchange Commission.
Copies of the prospectus supplement and accompanying base prospectus
may be obtained at the SEC's website at http://www.sec.gov, or via
written request to IsoRay, Inc., 350 Hills Street, Suite 106,
Richland, WA, 99354. Attention: Investor Relations.
About IsoRay, Inc.
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the exclusive producer of Cesium-131 internal radiation therapy, which is expanding brachytherapy options throughout the body. Learn more about this innovative Richland, Washington company and explore the many benefits and uses of Cesium-131 by visiting www.isoray.com.
This release includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in IsoRay's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. IsoRay assumes no obligation to update and supplement forward-looking statements because of subsequent events.
SOURCE: IsoRay, Inc.
IsoRay, Inc. Sharon Schultz, 301-351-0109 email@example.comCopyright Business Wire 2011
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