Amarin Corporation (AMRN) Announces $70M Private Placement
Down)
Amarin Corporation plc (NASDAQ: AMRN) entered into a definitive agreement with several existing and new institutional and accredited investors for a $70 million private placement.
The private placement of units for $70 million consists of $66.4 million in cash proceeds and $3.6 million from the conversion of convertible bridge notes. In consideration for the $66.4 million received in cash, Amarin will issue 66.4 million units. Each unit has a purchase price of $1.00 and consists of one American Depositary Share ("ADS") and a warrant to purchase 0.50 of an ADS. The warrants will have a five year term and an exercise price of $1.50 per ADS. In consideration for the conversion of $3.6 million principal amount of convertible bridge notes, Amarin will issue 4.0 million units.
The private placement of units for $70 million consists of $66.4 million in cash proceeds and $3.6 million from the conversion of convertible bridge notes. In consideration for the $66.4 million received in cash, Amarin will issue 66.4 million units. Each unit has a purchase price of $1.00 and consists of one American Depositary Share ("ADS") and a warrant to purchase 0.50 of an ADS. The warrants will have a five year term and an exercise price of $1.50 per ADS. In consideration for the conversion of $3.6 million principal amount of convertible bridge notes, Amarin will issue 4.0 million units.
You May Also Be Interested In
- Data for Amarin's AMR101 to be Presented at the National Lipid Association 2012 Annual Scientific Sessions
- Stereotaxis (STXS) To Offer 28.2M Shres
- A123 Systems (AONE) Amends Purchase Agreement, Will File 49.6M Common Shelf for Underlying Notes
Create E-mail Alert Related Categories
Equity OfferingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
