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Orthovita raises $13.7 million in private placement:

This article was originally published in Clinica

Executive Summary

Orthovita has entered agreements to sell almost 5 million shares of its common stock to several institutional investors in a bid to raise $13.7m. The investors will also receive five-year warrants to purchase almost a further million shares in the orthopaedic biomaterials company at a price of $4 each. The Malvern, Pennsylvania-based company was expecting the transaction to be completed as Clinica went to press.

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