BioScrip Inc (NASDAQ:BIOS) Raises Approximately $5 million in Private Placement of Common Stock

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BioScrip Inc (NASDAQ:BIOS), a top biotech stocks and U.S’s leading provider home care management solutions, has announced signing with Venor Capital Management LP and partner funds in which BioScrip will sell a total of 3,300,000 shares of its common stock at a total cost of $5,070,780. Each share will sell at a negotiated price of $1.5366. This price was negotiated basing on the average price of BioScrip shares at the NASDAQ market as at March 1, 2017. The company will use the proceeds raised from the private offering to fund its working capital expenditures and for general corporate purposes.

This offering is exempted from the Securities Act of 1933 registration requirements which offers a window for exemption of registration as long as the issuer does not involve any public offering. The securities thus sold in the Private Placement thus do not call for registration and can be sold in the U.S without SEC registration.

After ratifying the Registration Rights Agreement, BioScrip will proceed to prepare a statement of registration with SEC within ten days after filing its annual report for the financial year 2016. This is done to facilitate the resale of shares that are issued as dividends. Alos in the agreement, BioScrip will insure the selling holders from any liabilities and to clear all fees and expenses.

Dechert LLP has been appointed as BioScrip’s legal advisor and Akin Gump Strauss Hauer & Feld LLP as the purchasers’ legal advisor.

BioScrip, Inc is one of the mainstream providers of home care management solutions in the United States. The company partners with hospital systems, physicians, payors of health care, skilled nursing facilities and pharmaceutical manufacturers to enable patients access post-cure services. The company is fully committed to offering customer-centered pharmacy and related healthcare services. These services are offered to patients in their homes or the nearest appropriate setting. By partnering with several patients and medical professionals, the company is able to offer cost-friendly healthcare that is driven by high levels of customer services, excellence and value. This in turn enhances positive results and improves the quality of life of the people it serves.

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