Full Press Release Details
COMPANY PRESS RELEASE
ROCKWELL MEDICAL TECHNOLOGIES, INC. ANNOUNCES $22 MILLION REGISTERED DIRECT OFFERING
Wixom, Michigan, September 30, 2009 Rockwell Medical Technologies, Inc. (Nasdaq: RMTI) announced
today that it has obtained commitments from institutional investors to purchase an aggregate of
2,840,000 shares of Rockwell s common stock and warrants to purchase up to 1,079,200 shares of common stock
in a registered direct offering for gross proceeds of approximately $22.0 million, before deducting
placement agents fees and estimated offering expenses. The purchase price per unit, consisting of
one share and a warrant to purchase 0.38 shares, is $7.75. The warrants will have a five-year
term from the date of issuance, will be exercisable beginning six months after the date of
issuance, and will be exercisable at a price of $9.55 per share.
The securities described above are being offered directly by Rockwell pursuant to an effective
shelf registration statement previously filed with the Securities and Exchange Commission (File No.
333-160791). Rockwell anticipates that the net proceeds from the offering of approximately $20.5 million will be used for general corporate purposes, which may include funding of clinical trials
and regulatory activities for soluble ferric pyrophosphate, our licensed drug therapy for the
delivery of iron supplementation for anemic dialysis patients, and other research and development
expenses, and general and administrative expenses. The closing of this offering is expected to
occur on or about October 5, 2009, subject to satisfaction of customary closing conditions.
JMP Securities LLC served as lead placement agent and Wedbush Securities Inc. served as
co-placement agent for the offering. Copies of the prospectus supplement and accompanying base
prospectus relating to the public offering may be obtained from the Securities and Exchange
Commission website at http://www.sec.gov or from Rockwell Medical Technologies, Inc., located at
30142 Wixom Road, Wixom, Michigan 48393 (telephone number: (248) 960-9009), Attn: Thomas E. Klema,
This press release does not and shall not constitute an offer to sell or the solicitation of an
offer to buy any of the securities, nor shall there be any sale of the securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or jurisdiction. Any offer of these
securities will be solely by means of a prospectus included in the registration statement and any
prospectus supplement that may be issued in connection with such offering.
Rockwell Medical Technologies, Inc. is a leading, innovative manufacturer and developer of renal
drug therapies and critical products focused on improving the quality of care for dialysis
patients. Rockwell s products are used to maintain life, removing toxins and replacing nutrients
in the dialysis patient s bloodstream. Rockwell has licensed and is currently developing
proprietary renal drug therapies for both iron-delivery and carnitine/vitamin-delivery, utilizing
its dialysate as the delivery mechanism. The Company offers the proprietary Dri-Sate Dry Acid
Concentrate Mixing System, RenalPure Liquid Acid Concentrate, SteriLyte Liquid Bicarbonate
Concentrate, RenalPure Powder Bicarbonate Concentrate, Blood Tubing Sets, Fistula Needles and a
wide range of ancillary dialysis items. Visit Rockwell s website at www.rockwellmed.com for more
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. When we use words such as may, might,
will, should, believe, expect, anticipate, estimate, continue, predict, forecast,
projected, intend or similar expressions, or make statements regarding our intent, belief, or
current expectations, we are making forward-looking statements. While we believe these
forward-looking statements are reasonable, you should not place undue reliance on any such
forward-looking statements which are based on information available to us on the date of this
release. Because these forward looking statements are based upon estimates and assumptions that are
subject to significant business, economic and competitive uncertainties, many of which are beyond
our control or are subject to change, actual results could be materially
different. Factors which
could cause such a difference include, without limitation, the risk factors set forth in the
Company s SEC filings, including its Form 10-Q for the quarter ended June 30, 2009 and its Form
10-K for the year ended December 31, 2008. The forward- looking statements should be considered in
light of these risks and uncertainties. We do not undertake, and expressly disclaim any obligation,
to update or alter our statements whether as a result of new information, future events or
otherwise, except as required by law.
CONTACT: The Trout Group LLC