Dec 29 2010
DARA BioSciences, Inc. (Nasdaq:DARA) (the "Company") announced today that it has commenced a registered public offering of up to $4 million of units comprised of shares of Series A convertible preferred stock and warrants to purchase shares of common stock.
The proceeds received by the Company from the offering will be used for the ongoing development of its lead candidates and for working capital and general corporate purposes.
Ladenburg Thalmann & Co. Inc. a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE AMEX: LTS), acted as the exclusive the placement agent for this offering. The offering is being made only by means of a prospectus, copies of which may be obtained from Ladenburg Thalmann & Co. Inc., Prospectus Department, 520 Madison Avenue, 9th Floor, New York, New York, 10022, telephone: (212) 409-2000. Electronic copies of the prospectus are available on the Securities and Exchange Commission's Web site at www.sec.gov.
The units are being offered pursuant to an effective registration statement.