Spectral Diagnostics Closes $5.6 Million Offering

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[{"type":"text","content":"\n\n\n\n\n\n- Toray Industries, Inc. Subscribes for $5 Million of Offering -\n\n\nTORONTO, April 2, 2013 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) (\"Spectral\", or the \"Company\") and Toray Industries, Inc. (\"Toray\") today announced the completion of the previously announced $5.6\n million private placement of the Company, comprised of a total of\n 18,666,667 common shares in the capital of the Company (\"Common Shares\"), at a price of $0.30 per Common Share (the \"Private Placement\").\n\n\nToray acquired 16,666,667 Common Shares in the Private Placement, at a\n price of $0.30 per Common Share, for $5 million.  Following completion\n of the Private Placement, Toray's 16,666,667 Common Shares represent\n approximately 12.6% of the issued and outstanding Common Shares,\n calculated on a non-diluted basis\n\n\n\"We are very pleased to have Toray as a shareholder and we sincerely\n appreciate the support of existing investors who participated in this\n offering at a premium to market. This is indicative of the confidence\n that they have in our clinical development program and prospects for\n Toraymyxin in the U.S. market,\" said Anthony Businskas, Executive Vice\n President and CFO of Spectral.\n\n\n\"This strategic investment not only provides additional funds for the\n clinical trial, but also strengthens the existing collaborative\n relationship we have with Spectral. Toray will work with Spectral to\n complete the clinical study for U.S. FDA market approval of Toraymyxin\n and together we hope to accelerate the launch of this product into the\n U.S. market,\" said Kazuhiro Maruyama, Senior Vice President of Toray.\n\n\nThe net proceeds of the Private Placement will be used to continue to\n support the Company's Phase III EUPHRATES clinical trial and for general corporate purposes.\n\n\nThe acquisition of the Common Shares by Toray was made for investment\n purposes only, and not with the purpose of influencing control or\n direction over Spectral.  Toray may acquire further Common Shares, or\n dispose of its holdings of Common Shares, as investment conditions\n warrant.\n\n\nAbout Spectral Diagnostics\n\n\nSpectral is a Phase III company seeking U.S. FDA approval for its lead\n theranostics product (Toraymyxin) for the treatment of septic shock.\n Toraymyxin is a therapeutic hemoperfusion devi...

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