FRANKLIN, Tenn.–(BUSINESS WIRE)–BioMimetic Therapeutics, Inc. (NASDAQ: BMTI – News) announced today that the Company has approved a seven-day extension of the Company’s pending subscription rights offering to 5:00 p.m., New York City time, on June 22, 2009, unless further extended by the Company. Pursuant to the subscription rights offering, each holder of record of the Company’s common stock as of April 21, 2009 received one non-transferable subscription right for each share of common stock owned by such holder on such date, except with respect to shares of common stock held by the BioMimetic 401K Plan. Each subscription right represents the right to purchase 0.1017 shares of the Company’s common stock at a price of $8.50 per share. The rights offering originally was scheduled to expire on June 15, 2009.
If you hold your shares of the Company’s common stock in a brokerage account and wish to exercise your subscription rights, you should follow the instructions from your broker. If you have not heard from your broker and you wish to participate in the rights offering, please contact your broker. Your broker can exercise your right to participate in the rights offering on your behalf. If your broker would like assistance with exercise mechanics, he or she should call the The Altman Group at (866) 796-7176 (toll free) Monday through Friday (except bank holidays), between 10:00 a.m. and 4:00 p.m., New York time.
Subscription rights for the offering will expire if they are not exercised and fully paid for prior to 5:00 p.m., New York City time, on June 22, 2009. The exercise deadline is a receipt deadline, not a mailing deadline, and accordingly subscription documents and subscription payments that are not received by the Subscription Agent (American Stock Transfer & Trust Company) by the expiration deadline will not be honored.