BSD Medical Corporation (NASDAQCM: BSDM) (BSD), a leading
provider of medical systems that utilize heat therapy to treat cancer,
announced today that it has entered into definitive agreements with
institutional investors to raise approximately $5,225,000 in a
registered direct offering at a price of $0.95 per unit. The Company is
offering an aggregate of 5,500,000 shares of the Company's common stock
and warrants to purchase up to 4,400,000 shares of the Company's common
stock. The common stock and warrants will be immediately separable. The
warrants will be exercisable six months and one day after the closing
and have a term of exercise of five years from when they are exercisable
and an exercise price of $1.10 per share. The offering is expected to
close on or about July 1, 2014 subject to customary closing conditions.
Maxim Group LLC is acting as the exclusive placement agent for the
offering.
BSD intends to use the net proceeds from the offering for general
working capital purposes.
The units are being offered by BSD pursuant to a shelf registration
statement on Form S-3 (file no. 333-184164) filed pursuant to the
Securities Act of 1933, which was previously filed with, and declared
effective by, the Securities and Exchange Commission (SEC). A prospectus
supplement relating to the offering will be filed with the SEC and will
be available on the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
About BSD Medical Corporation
BSD
Medical Corporation develops, manufactures, markets and services systems
to treat cancer and benign diseases using heat therapy delivered using
focused microwave energy and radio frequency (RF). BSD’s product lines
include ablation and hyperthermia treatment systems. BSD’s microwave
ablation system has been developed as a stand-alone therapy to ablate
and destroy soft tissue. The Company has developed extensive
intellectual property, multiple products in the market, and well
established distribution in the United States, Europe and Asia. BSD’s
hyperthermia cancer treatment systems, which have been in use for
several years in the United States, Europe and Asia, are used to treat
certain tumors with heat (hyperthermia) while increasing the
effectiveness of other therapies such as radiation therapy. Certain of
the Company’s products have received regulatory approvals in the United
States, Europe and China. For further information visit BSD Medical’s
website at www.BSDMedical.com.
About Maxim Group LLC
Maxim Group LLC is a full-service
investment banking firm headquartered in New York. Maxim Group provides
a full array of financial services including investment banking; private
wealth management; and global institutional equity, fixed-income and
derivatives sales and trading as well as equity research. The investment
banking group focuses on middle market and emerging growth companies
within the healthcare, technology, media, shipping, energy, retail, and
business and financial services sectors. The institutional coverage of
Maxim Group spans North and South America, Europe and Asia.
Statements contained in this press release that are not historical facts
are forward-looking statements, as defined in the Private Securities
Litigation Reform Act of 1995, including the intended use of proceeds of
the offering. All forward-looking statements are subject to risks and
uncertainties detailed in the Company’s filings with the Securities and
Exchange Commission, including risks and uncertainties relating to the
Company’s products, regulatory environment, domestic and foreign
markets, and other risk factors set forth in the Company’s filings with
the Securities and Exchange Commission. These forward-looking statements
speak only as of the date on which such statements are made, and the
Company undertakes no obligation to update such statements to reflect
events or circumstances arising after such date.
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