Biopure prices offering

Biopure Corp. announced today the pricing of an underwritten public offering of stock and warrants.

The Cambridge company, which develops and manufactures oxygen therapeutics, said that a transaction expected to close on or about Nov. 6 could result in net proceeds to Biopure of about $13 million, assuming no exercise of the warrants issued in the offering.

Subject to closing conditions, the underwriters have agreed to purchase from the company 16.85 million new shares of Biopure common stock and warrants to acquire an additional 16.85 million new shares, Biopure said.

The price for one share and one warrant is 85 cents, and the exercise price of each warrant is $1.06, Biopure said.

Biopure said it intends to use the proceeds from this offering for general corporate and working capital purposes.

Biopure also said it has granted the underwriters a 45-day option to purchase an additional 2.527 million shares and and 2.527 million warrants to cover over-allotments.
(By Chris Reidy, Globe staff)