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Alimera ends sale of $37.5 million of common stock in private placement

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Alimera Sciences announced the closing of the private placement of common stock Tuesday in a press release. The end date of the sale was Jan. 31.

Alimera previously announced the sale, where they intended to sell 6.25 million shares of common stock for $6 per share, at the end of January.

The biopharmaceutical research and development company made approximately $37.5 million from the offering, which is expected to be used for working capital and general corporate purposes, according to the release.

"In connection with the private placement, Alimera has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act covering the resale of shares of common stock," the release read. "The securities offered have not been registered under the Securities Act and may not be offered or sold in the U.S. without registration or an applicable exemption from the registration requirements of the Securities Act."