Feb 25, 2009 — EnteroMedics Inc., a development of medical devices using neuroblocking technology to treat obesity, its associated co-morbidities, and other gastrointestinal disorders, announced that on February 19, it entered into binding securities purchase agreements for the sale of 13,110,393 shares of its common stock, together with warrants to purchase an aggregate of 6,555,197 shares of its common stock, in a private placement transaction with several accredited investors. Private Placement Memorandum.

In a release, the Company noted that the purchase price per share was $1.15, via Private Placement Memorandum, which equaled the consolidated closing bid price of the Company’s common stock as reported by the Nasdaq Stock Market on February 19. The warrants will be exercisable at any time and from time to time beginning on the date that is six months and one day after the closing and ending four years after the closing of the private placement. The warrants will have an exercise price of $1.38 per share, which equals 120 percent of the consolidated closing bid price of the Company’s common stock as reported by the Nasdaq Stock Market on February 19. The closing of the private placement is expected to take place on or before February 24. Canaccord Adams Inc. acted as sole placement agent for this offering.

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