Financing and Dilution

Unilife Announces Multifaceted Financing Strategy
$45 million equity purchase agreement with Lincoln Park Capital with $5 million upfront tranche
$25 million At-the-Market (ATM) facility with Cantor Fitzgerald
Unilife has flexibility and control with sole discretion on use of both financing mechanisms
YORK, Pa., July 29, 2015 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS and ASX: UNS), a developer, manufacturer and supplier of injectable drug delivery systems, today announced the implementation of a multifaceted financing strategy that provides the Company with flexibility and control to support its continued business growth.
Unilife has signed an equity purchase agreement for up to $45 million with Lincoln Park Capital Fund, LLC ("LPC"), a Chicago-based institutional investor, which provides the Company with $5 million in initial net proceeds and the option to generate, at its sole control and discretion, up to $40 million in additional net proceeds over 24 months. Unilife has also implemented a $25 million At-the-Market facility with Cantor Fitzgerald that can be used at the Company's discretion.
Mr. David Hastings, Chief Financial Officer of Unilife, said: "The combination of the Lincoln Park Capital and Cantor Fitzgerald facilities provide us with financing flexibility and control, as we retain complete discretion as to whether and when we draw down under the facilities. This multifaceted strategy allows us to prudently support the financing of our business as we seek to increase customer cash receipts and advance additional customer relationships.
Lincoln Park Capital Fund Purchase Agreement
Unilife announced today the execution of a purchase agreement for up to $45 million with LPC. Under the terms of the agreement dated July 29, 2015, LPC initially purchased $5 million dollars of Unilife common stock at $1.79 per share, as per the closing price on Monday, June 27, 2015. Thereafter, at its sole discretion, Unilife may sell up to $40 million of common stock to LPC, from time-to-time, over the 24-month term, subject to the conditions and limitations set forth in the agreement. LPC has agreed not to cause or engage in any direct or indirect short selling or hedging of Unilife common stock, and LPC is obligated to purchase our common stock at times and amounts controlled by the Company, subject to the terms and conditions in this agreement. In consideration for entering into the agreement, the Company agreed to issue shares of its common stock to LPC as a commitment fee.
Additional information regarding this financing with LPC will be available in the Current Report on Form 8-K that the Company intends to file today with the Securities and Exchange Commission ("SEC") and the Australian Securities Exchange ("ASX").
At the Market Offering for up to $25 Million with Cantor Fitzgerald
Unilife today announced it has established an "At-the-Market" ("ATM") facility with Cantor Fitzgerald & Co., through which it may offer and sell, at the Company's discretion, up to $25 million of common stock. Additional information regarding this ATM financing will be available in the Current Report on Form 8-K that the Company intends to file today with the SEC and the ASX.
Use of Proceeds
The Company intends to use the net proceeds received from the financing with LPC and the "at-the-market" facility for investments in its plant, equipment, systems and personnel to further develop its manufacturing and operational capabilities to satisfy current and future customer orders and general corporate purposes, including working capital, acquisitions and other business opportunities.
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