ULURU Inc. Announces Closing Of $440,000 Private Placement
ADDISON, Texas, March 15, 2013 /PRNewswire/ -- ULURU
Inc. (OTCQB: ULUR),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 an aggregate of 1,100,000 shares of its common stock at a
price per share of $0.40 pursuant to
a previously announced private placement to management, resulting
in gross proceeds of $440,000.
Participating in the private placement were Kerry P. Gray, the Company's Chairman, President
and Chief Executive Officer and Terrance K.
Wallberg, the Company's Vice President and Chief Financial
Officer.
The officers also received warrants to purchase up to an
aggregate of 660,000 shares of ULURU Inc.'s common stock. The
warrants have a fixed 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 five
years 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 $88,000 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.
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.