News from nasdaq with some interesting points to note I've...

News from nasdaq with some interesting points to note I've asterixed **

BOSTON & PERTH, Australia--(BUSINESS WIRE)--pSivida Limited (NASDAQ:PSDV - News; ASX:PSD - News; Xetra:PSI - News), today provided further clarification with respect to its recently announced US$9 million private placement of ordinary shares.
The US$9 million placement to private investors is being raised in part to provide the Company with sufficient funds to redeem the Sandell Convertible Note. The US$9 million issue of approximately 41 million Australian exchange traded ordinary shares (ASX) priced at A$0.27 is equivalent to an issue of approximately 4.1 million NASDAQ-traded American Depository Shares (NASDAQ) priced at approximately US$2.20 (one NASDAQ share is equal to 10 ASX ordinary shares).
The US$5 million equity investment in ASX traded ordinary shares by Pfizer has also been raised to provide the Company with sufficient funds to redeem the Sandell Convertible Note on June 4, 2007.
The Company expects to have sufficient funds to redeem the Sandell Convertible Note on June 4, 2007, although*** all or part of the Sandell Convertible Note may be converted into pSivida equity prior to the redemption date.
Pfizer has agreed to invest an additional US$5 million in pSivida common equity in the future, subject to certain conditions.
The Company has ongoing evaluations of our innovative drug delivery technologies in other parts of the body that could result in further **licensing deals.
**The Company plans to meet with analysts and others that follow our industry throughout United States in late April to further describe its current business and progress.