BioSante (BPAX) Enters Agreement to Cancel $5M of Debt, Will Issue 6.7M Common in Deal
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On February 7, 2012, BioSante Pharmaceuticals, Inc. (Nasdaq: BPAX) 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 which BioSante agreed to issue 6,723,173 shares of its common stock, $0.0001 par value per share, to the Holder in exchange for cancellation of an aggregate of $5.0 million principal amount of the Notes, including accrued and unpaid interest.
Following such exchange, an aggregate of $15.8 million principal amount of the Notes will remain outstanding.
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Following such exchange, an aggregate of $15.8 million principal amount of the Notes will remain outstanding.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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