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ULURU (ULU) Announces $1.35M Common Stock and Warrant Offering

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November 12, 2009 8:44 AM EST

ULURU Inc. (NYSE: ULU) announced that they have entered into a Securities Purchase Agreement with several institutional investors. Pursuant to the Securities Purchase Agreement, we have agreed to issue to those investors the following:10,714,467 shares of our common stock, par value $0.001 per share;

Warrants to purchase up to 5,357,233 shares of our common stock.The Warrants have an initial exercise price of $0.19 per share, and may be exercised at any time and from time to time on or after the six month anniversary of the date of delivery of the Warrants through and including the five-year anniversary thereof.

The aggregate net proceeds from the Offering, after deducting the Placement Agents' fees and estimated offering expenses payable by us (and excluding any proceeds from exercise of the Warrants), are expected to be approximately $1.35 million. The Offering is expected to close on or about November 16, 2009, subject to satisfaction of standard closing conditions.

Rodman and Renshaw (NASDAQ: RODM) agrees to act as the exclusive placement agent on a reasonable best efforts basis for a proposed offering of the securities.