September 25, 2009 (FinancialWire) — Northern Technologies International Corp. (NASDAQ: NTIC) announced the closing of the sale directly to institutional investors of an aggregate of 480,000 shares of its common stock at a purchase price of $7.40 per share, resulting in gross cash proceeds to NTIC of approximately $3.55 million.

NTIC expects to receive net proceeds of approximately $3.2 million after deducting placement agent fees and other offering expenses.

Proceeds from the transaction will be used for general corporate purposes, including research and development to further NTIC’s emerging businesses, and for working capital.

The shares were offered and sold pursuant to a prospectus supplement dated September 18, 2009 to NTIC’s registration statement on form S-3 (File No. 333-153891), including a base prospectus dated January 16, 2009, registering up to $50,000,000 of NTIC equity securities and the offering thereof from time to time in accordance with Rule 415 under the Securities Act of 1933, as amended, which incorporates by reference documents which NTIC has filed or will file in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.

Next Generation Equity Research, LLC acted as the exclusive placement agent for the transaction.

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