Navigation Links
PharmAthene, Inc. Closes on $19.3 Million Private Placement of Convertible Notes and Common Stock Warrants
Date:7/31/2009

ANNAPOLIS, Md., July 31 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today announced that, effective July 28, 2009, it has closed on the issuance of 2-year, 10% unsecured senior convertible notes ("Notes") and common stock purchase warrants ("Warrants") in a private placement of approximately $19.3 million.

In connection with the private placement, the Company has received gross cash proceeds of approximately $10.5 million from new investors, including an aggregate of approximately $8.5 million from unaffiliated investors, and has exchanged approximately $8.8 million in outstanding principal and unpaid accrued interest under the Company's 8% senior unsecured convertible notes originally issued in August 3, 2007 and due August 3, 2009 (the "Old Notes").

Cash proceeds from the sale of the Notes and Warrants will be used (i) to repay approximately $5.7 million in principal and unpaid accrued interest due to holders of the Old Notes that have not elected to participate in this financing transaction, (ii) to repay all remaining amounts (approximately $2.7 million), including certain prepayment fees, due and owing under the Company's outstanding secured credit facility, and (iii) for other working capital purposes. The Company estimates that at its currently projected rate of net cash consumption, the net proceeds from this financing along with existing sources of cash will be sufficient to fund operations through the end of 2010.

Interest on the Notes will accrue at a rate of ten percent (10%) per year. The Notes are convertible by the holders thereof at any time into shares of PharmAthene's common stock at a conversion price of $2.541667/share, which represents the closin
'/>"/>

SOURCE PharmAthene, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Hearing Scheduled in the Delaware Court of Chancery for August 27, 2007 to Establish the Valid Approval and Consummation of the Merger Between PharmAthene, Inc. and Healthcare Acquisition Corp.
2. OncoVista, Inc. Closes on $6.8 Million Financing and Acquires Control of a Public Shell Company
3. Genmab Discloses Target and Development Plans for HuMax-Inflam
4. Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
5. RoundTable Healthcare Partners Closes Sale of MedAssist Holding, Inc. to Firstsource Solutions Limited
6. Gilde Healthcare Partners Closes EUR 150 Million European Healthcare Venture Fund
7. Symmetry Medical Discloses Accounting Issues at Sheffield, UK Operating Unit and Possible Restatement
8. BioVex Closes Second Round of Series E Financing
9. Pharmaxis Closes Share Purchase Plan
10. The closest look ever at native human tissue
11. Helix BioPharma closes $16.9 million private placement of common shares
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/26/2015)... /PRNewswire/ - iCo Therapeutics ("iCo" or "the Company") (TSX-V: ... the quarter ended June 30, 2015. Amounts, unless ... presented under International Financial Reporting Standards ("IFRS"). ... our Oral Amp B program, rapidly advancing towards ... Andrew Rae , President & CEO of iCo ...
(Date:8/26/2015)... 26, 2015 Intrexon Corporation (NYSE: XON ... closing of its previously announced public offering of common ... of their option to purchase an additional 731,707 shares ... $41.00 per share.  The exercise of the underwriters, option ... sold by Intrexon to 5,609,756 shares and increased the ...
(Date:8/26/2015)... San Bruno, CA. (PRWEB) , ... August 26, 2015 , ... ... three major conferences to develop new business relationships with local sponsors in southern California. ... services to facilitate their drug development processes and regulatory pathways., , ...
(Date:8/25/2015)... Aug. 25, 2015 Human Longevity, Inc. (HLI), the ... has joined the company as Chief Operating Officer. Winham, ... operations and technical experience, will report directly to HLI,s CEO, ... this new role as COO, Winham will be responsible for ... well as all facility operations. HLI currently has three locations ...
Breaking Biology Technology:iCo Therapeutics Announces Second Quarter 2015 Financial Results 2iCo Therapeutics Announces Second Quarter 2015 Financial Results 3Intrexon Announces Closing of $230 Million Public Offering of Common Stock including Full Exercise of Underwriters' Option to Purchase Additional Shares 2Intrexon Announces Closing of $230 Million Public Offering of Common Stock including Full Exercise of Underwriters' Option to Purchase Additional Shares 3Intrexon Announces Closing of $230 Million Public Offering of Common Stock including Full Exercise of Underwriters' Option to Purchase Additional Shares 4PRC Clinical To Attend Major Industry Conferences And Meet Sponsor Companies In The San Diego Biotech Hub 2PRC Clinical To Attend Major Industry Conferences And Meet Sponsor Companies In The San Diego Biotech Hub 3Human Longevity, Inc. Hires Life Sciences Leader, Mark Winham, as Chief Operating Officer 2
... VIRGINIA BEACH, Va., Oct. 7, 2008 AMERIGROUP,Corporation ... will report its earnings,for the third quarter ended ... October 22, 2008. At 8:30 a.m. Eastern Time ... a conference call and webcast,to discuss earnings and ...
... of Lives, GERMANTOWN, Md., Oct. 7 ... development of medical,countermeasures for biodefense and emerging infectious ... for advanced development of a,vaccine to protect against ... Allergy and Infectious Diseases (NIAID), part of the ...
... Maryland, October 7 Orthocrat Ltd., announced,today ... purchased,TraumaCad(TM), a web-based pre-operative planning and digital ... used X-ray films and acetate,overlays to determine ... for,joint-replacement surgery. With the adoption of digital ...
Cached Biology Technology:AMERIGROUP Corporation to Discuss Third Quarter Earnings on October 23 2Integrated BioTherapeutics Awarded NIAID Contract For Up to $65 Million for Development of a Vaccine against Ebola and Marburg Viruses 2Integrated BioTherapeutics Awarded NIAID Contract For Up to $65 Million for Development of a Vaccine against Ebola and Marburg Viruses 3George Washington University Hospital Purchases Orthocrat's TraumaCad(TM) for Orthopedic Preoperative Planning 2George Washington University Hospital Purchases Orthocrat's TraumaCad(TM) for Orthopedic Preoperative Planning 3
(Date:8/20/2015)... Aug. 20, 2015 NXT-ID, Inc. (NASDAQ: ... company focused on the growing mobile commerce market and ... joined The Smart Card Alliance and the EMV Migration ... and the Smart Card Alliance Latin America (SCALA) Chapter ... peers and thought leaders promoting adoption of smart card ...
(Date:8/18/2015)... Aug. 18, 2015  Navitas today announced ... to the Submission Content Management webinar scheduled ... non-profit forum. Dedicated to the Implementation of Regulatory ... platform for industry, vendors, health authorities, consultants ... work towards a standard method of implementing ...
(Date:8/17/2015)... OXFORD, Conn. , Aug. 17, 2015  NXT-ID, ... a biometric authentication company focused on the growing mobile ... announces its new sales campaign for Q4 2015. The ... winning marketing team consisting of Amplitude Marketing Group ( ... Amplitude Marketing Group is a leader in retail driven ...
Breaking Biology News(10 mins):NXT-ID, Inc. Joins Smart Card Alliance and EMV Migration Forum 2NXT-ID, Inc. Joins Smart Card Alliance and EMV Migration Forum 3NXT-ID, Inc. Joins Smart Card Alliance and EMV Migration Forum 4Navitas, a Key Contributor in IRISS Forum Webinar 2Navitas, a Key Contributor in IRISS Forum Webinar 3NXT-ID, Inc. Launches Sales Campaign for Wocket Smart Wallet with Award Winning Marketing Team 2NXT-ID, Inc. Launches Sales Campaign for Wocket Smart Wallet with Award Winning Marketing Team 3
... of the greatest mysteries of modern coral reefs is how ... has long existed in the record of coral evolution. ... in sea level and changes in the Earth,s climate between ... many "old" corals went extinct, and the modern reef corals ...
... the University of Alberta have made a discovery that may ... cow disease, adapt in order to spread between various types ... discovered that a miniscule change in the prions, makeup appears ... mimic and recreate new strains with which it comes into ...
... For hundreds of years, naturalists and scientists have ... differences. But now, new genetic techniques are revealing ... visible differences. In a just-published study, evolutionary ... the American Museum of Natural History (AMNH) combine ...
Cached Biology News:University of Miami geologists to address the mystery of an evolution gap in reef corals 2Discovery may explain how prion diseases spread between different types of animals 2Researchers develop tools for discovering new species 2Researchers develop tools for discovering new species 3
...
... pAcGHLT-A,B,C Baculovirus ... Set,pAcGHLT-XylE Baculovirus ... Powder,Thrombin Dilution ... Cocktail,Insect Cell ...
...
... Plus accurately and conveniently controls the temperature at ... different temperature levels up to 99 C*, with ... as low as 5 C. The thermoblocks for ... tubes, and microplates enable a high degree of ...
Biology Products: