BioSante Exchanges $4 Million Aggregate Principal Amount of Convertible Senior Notes for 4.5 Million Shares of Common Stock

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX), announced today that the company has entered into a privately-negotiated securities exchange agreement with a holder of BioSante’s 3.125% convertible senior notes due May 1, 2013. Pursuant to the terms of the agreement, BioSante issued 4,485,159 shares of its common stock to the note holder in exchange for an aggregate of $4.0 million principal amount of notes, including accrued and unpaid interest. Following suc

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February 16, 2012