Securities Sale to Fund DOR Into Next Year

DOR BioPharma said it has agreed to privately sell securities to institutional investors for $3.77 million in gross proceeds. The company projected the money should allow it to fund operations into 2006. In exchange for the funds, the Miami-based biopharmaceutical company said it will issue, subject to customary closing conditions, 8.39 million common shares and warrants to buy 6.29 million common shares. That puts the shares at a value of nearly 45 cents a share.

The South Florida Business Journal (http://www.bizjournals.com/southflorida/stories/2005/01/31/daily57.html)