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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
&nbsp;April 2, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Derma Sciences, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 34%; padding-right: 0.8pt; text-align: center">Pennsylvania</TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center">1-31070</TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center">23-2328753</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">(IRS employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">of incorporation)</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">identification number)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">214 Carnegie Center, Suite 300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Princeton, NJ&nbsp;&nbsp;08540</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(609) 514-4744</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address including zip code and telephone</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">number, of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
( <I>see</I> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01&nbsp;&nbsp;Entry into a Material Definitive Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April&nbsp;2, 2012, Derma Sciences, Inc.
(the &ldquo;Company&rdquo;) entered into a Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;) with Piper Jaffray &amp; Co.
(&ldquo;Piper Jaffray&rdquo;) with respect to an underwritten registered direct offering of 2,125,000 shares of the Company&rsquo;s
common stock, par value $0.01 per share (the &ldquo;Common Stock&rdquo;), at a price of $9.25 per share.&nbsp; Net proceeds from
the offering, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $17.9
million. The Company plans to use the net proceeds from the offering for the continued development of DSC127 and for general corporate
purposes. The closing of the offering is expected to occur on or about April&nbsp;5, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The sale of the Common Stock is being made
pursuant to the Company&rsquo;s Registration Statement on Form&nbsp;S-3 (Registration No.&nbsp;333-173870) (the &ldquo;Registration
Statement&rdquo;), including a prospectus supplement dated April&nbsp;2, 2012 to the prospectus contained therein dated May&nbsp;20,
2011, filed by the Company with the Securities and Exchange Commission, pursuant to Rule&nbsp;424(b)(5)&nbsp;under the Securities
Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Agreement contains customary
representations, warranties and covenants and includes the terms and conditions for the sale of the Common Stock, indemnification
and contribution obligations and other terms and conditions customary in agreements of this type.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">From time to time in the ordinary course
of their respective businesses, Piper Jaffray and certain of its affiliates may have in the past or may in the future engage in
commercial banking or investment banking transactions with, or provide financial advisory services to, the Company and its affiliates
for which they were paid, or may in the future be paid, customary fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the Purchase Agreement is filed as Exhibit&nbsp;1.1
to this report, and the description of the terms of the Purchase Agreement is qualified in its entirety by reference to such exhibit
and is incorporated herein by reference. A copy of the legal opinion of Thompson Hine LLP, relating to the validity of the shares
to be issued in the offering, is filed as Exhibit&nbsp;5.1 to this report and is filed with reference to, and is hereby incorporated
by reference into, the Registration Statement. A copy of the Company&rsquo;s press release announcing the offering is attached
as Exhibit&nbsp;99.1 to this report and is incorporated herein by reference.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibits are included with this report:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 0.8pt; text-align: center">Exhibit</TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 87%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">Number</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">1.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Purchase Agreement, dated April 2, 2012, by and between the Company and Piper Jaffray &amp; Co.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">5.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Opinion of Thompson Hine LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">23.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Consent of Thompson Hine LLP (included as part of Exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Press Release, dated April 2, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B></B>DERMA SCIENCES, INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">&nbsp;&nbsp;&nbsp;&nbsp;/s/ John E. Yetter</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">John E. Yetter, CPA<BR>Vice President and Chief Financial Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">Date:&nbsp;&nbsp;April
4, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 0.8pt; text-align: center">Exhibit</TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 87%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center">Number</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.8pt">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">1.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Purchase Agreement, dated April 2, 2012, by and between the Company and Piper Jaffray &amp; Co.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">5.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Opinion of Thompson Hine LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">23.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Consent of Thompson Hine LLP (included as part of Exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Press Release, dated April 2, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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{"company-data": {"conformed-name": "DERMA SCIENCES, INC.", "cik": "0000892160", "assigned-sic": "3841", "irs-number": "232328753", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13070", "film-number": "12742702"}, "business-address": {"street1": "214 CARNEGIE CENTER, SUITE 300", "city": "PRINCETON", "state": "NJ", "zip": "08540", "phone": "6095144744"}, "mail-address": {"street1": "214 CARNEGIE CENTER, SUITE 300", "city": "PRINCETON", "state": "NJ", "zip": "08540"}, "former-company": {"former-conformed-name": "DERMA SCIENCES INC", "date-changed": "19940513"}}
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
 April 2, 2012
Derma Sciences, Inc.
(Exact name of registrant as specified in
its charter)
Pennsylvania
1-31070
23-2328753
(State or other jurisdiction
(Commission
(IRS employer
of incorporation)
File Number)
identification number)
214 Carnegie Center, Suite 300
Princeton, NJ  08540
(609) 514-4744
(Address including zip code and telephone
number, of principal executive offices)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(
see
General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01  Entry into a Material Definitive Agreement
On April 2, 2012, Derma Sciences, Inc.
(the "Company") entered into a Purchase Agreement (the "Purchase Agreement") with Piper Jaffray & Co.
("Piper Jaffray") with respect to an underwritten registered direct offering of 2,125,000 shares of the Company's
common stock, par value $0.01 per share (the "Common Stock"), at a price of $9.25 per share.  Net proceeds from
the offering, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $17.9
million. The Company plans to use the net proceeds from the offering for the continued development of DSC127 and for general corporate
purposes. The closing of the offering is expected to occur on or about April 5, 2012.
The sale of the Common Stock is being made
pursuant to the Company's Registration Statement on Form S-3 (Registration No. 333-173870) (the "Registration
Statement"), including a prospectus supplement dated April 2, 2012 to the prospectus contained therein dated May 20,
2011, filed by the Company with the Securities and Exchange Commission, pursuant to Rule 424(b)(5) under the Securities
Act of 1933, as amended.
The Purchase Agreement contains customary
representations, warranties and covenants and includes the terms and conditions for the sale of the Common Stock, indemnification
and contribution obligations and other terms and conditions customary in agreements of this type.
From time to time in the ordinary course
of their respective businesses, Piper Jaffray and certain of its affiliates may have in the past or may in the future engage in
commercial banking or investment banking transactions with, or provide financial advisory services to, the Company and its affiliates
for which they were paid, or may in the future be paid, customary fees.
A copy of the Purchase Agreement is filed as Exhibit 1.1
to this report, and the description of the terms of the Purchase Agreement is qualified in its entirety by reference to such exhibit
and is incorporated herein by reference. A copy of the legal opinion of Thompson Hine LLP, relating to the validity of the shares
to be issued in the offering, is filed as Exhibit 5.1 to this report and is filed with reference to, and is hereby incorporated
by reference into, the Registration Statement. A copy of the Company's press release announcing the offering is attached
as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
The following exhibits are included with this report:
Exhibit
Number
Description
1.1
Purchase Agreement, dated April 2, 2012, by and between the Company and Piper Jaffray & Co.
5.1
Opinion of Thompson Hine LLP
23.1
Consent of Thompson Hine LLP (included as part of Exhibit 5.1)
99.1
Press Release, dated April 2, 2012
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
DERMA SCIENCES, INC.
By:
/s/ John E. Yetter
John E. Yetter, CPA
Vice President and Chief Financial Officer
Date:  April
4, 2012
EXHIBIT INDEX
Exhibit
Number
Description
1.1
Purchase Agreement, dated April 2, 2012, by and between the Company and Piper Jaffray & Co.
5.1
Opinion of Thompson Hine LLP
23.1
Consent of Thompson Hine LLP (included as part of Exhibit 5.1)
99.1
Press Release, dated April 2, 2012