Navigation Links
Pharmos Corporation Completes Initial Closing of Private Placement
Date:1/3/2008

ISELIN, N.J., Jan. 3 /PRNewswire-FirstCall/ -- Pharmos Corporation (Nasdaq: PARS) announced today that it has completed an initial closing of a private placement of its 10% Convertible Debentures due November 2012. At the initial closing the Company issued $4,000,000 principal amount of the Debentures, at par, and received gross proceeds in the same amount.

The purchasers consisted of certain existing investors in the Company, namely Venrock Associates, New Enterprise Associates, Lloyd I. Miller, III and Robert Johnston.

The Debentures mature the earlier of November 1, 2012 or the sale of the Company. The Debentures, together with all accrued and unpaid interest thereon, may be repaid, without premium or penalty, commencing on November 1, 2011.

Starting on November 1, 2009 (or earlier sale of the Company), any outstanding Debenture may be converted at the option of the holder. The conversion price is fixed equal to $0.70 per share.

The Debentures bear interest at the rate of 10% per annum, payable semi-annually either in cash or common stock of the Company at the option of the Company.

Under the terms of the offering, the Company may raise gross proceeds up to an aggregate of $8,000,000 from the sale of Debentures in the placement (including the Debentures issued at the initial closing). A second closing is targeted for no later than 45 days from the date of the initial closing.

The proceeds will be used for working capital, in particular for the ongoing Phase 2b trial for dextofisopam.

The securities issued and issuable in the offering have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable
'/>"/>

SOURCE Pharmos Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Pharmos Corporation Announces Board and Management Changes
2. Pharmos Corporation Announces President & COO Alan L. Rubino to Leave Company
3. Pharmos Corporation to Present at the 2007 RBC Capital Markets Healthcare Conference
4. Pharmos Corporation Reports 2007 Third Quarter Results
5. Pharmos Issues Letter to Shareholders
6. Environmental Tectonics Corporation Announces Sale of Monoplace Hyperbaric Chambers
7. CuraGen Corporation Announces Appointment of Sean Cassidy as CFO
8. LifeCell Corporation Schedules 2008 Financial Guidance Release and Conference Call; January 7, 2008 at 10:00 A.M. Eastern
9. Shire Expands its Gastrointestinal Portfolio Through In-Licensing Celiac Disease Phase 2 Product From Alba Therapeutics Corporation
10. Alba Therapeutics Corporation and Shire plc Enter Into $325 Million ex-US, ex-Japan Licensing Agreement to Develop and Commercialize AT-1001
11. FMC Corporation and Pronova BioPharma Announce Agreement To Develop New Alginate-Based Capsule Products
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/22/2015)... 2015 Baylor Research Institute (BRI) at ... Research Institute (TGen) in Phoenix, AZ ... early detection and treatments for patients with a broad range ... lead to new clinical trials and access to technology to ... from bench to bedside across Baylor Scott & ...
(Date:5/21/2015)... 21, 2015  Prima Biomed Ltd. (NASDAQ: PBMD ... to become a leader in the development of immunotherapeutic ... the final CVac data from the Phase II CAN-003 ... for a clinically meaningful improvement in Overall Survival ("OS") ... In the group of second remission patients ...
(Date:5/21/2015)... Bridgewater, NJ (PRWEB) May 21, 2015 ... and a method for diagnostic or therapeutic imaging within ... the apparatus uses an endoscope having a low cost, ... original USPTO filing date was October 18, 2013 and ... The technology enables the physician to customize the ...
(Date:5/21/2015)... 2015 Veolia’s environmental monitoring technology ... American distribution agreement with VWR to distribute TECTA™ ... more than 160 years of experience, VWR, a ... laboratory and production facilities, has cultivated a value ... services to enable science. Endetec’s TECTA™ B16, ...
Breaking Biology Technology:Precision Medicine Collaboration to Increase Options for Cancer Patients 2Precision Medicine Collaboration to Increase Options for Cancer Patients 3Precision Medicine Collaboration to Increase Options for Cancer Patients 4Correction Continues after Big Move - BrokerBank Securities, Inc. 2IpAuctions™ Presents The Worlds Smallest Disposable Illuminated Endoscope For Auction 2IpAuctions™ Presents The Worlds Smallest Disposable Illuminated Endoscope For Auction 3Veolia’s TECTA™ B16 Instrument for E. Coli Detection is Offered Exclusively Through VWR 2
... HistoRx announced that Heiner Dreismann, Ph.D. has accepted its ... former President and CEO of Roche Molecular Systems, Dr. ... Dr. Dreismann was with Hoffmann La Roche for twenty ... Business Development Roche Diagnostics, Head of PCR Business Unit ...
... (Nasdaq: NBIX ) announced today that the Company ... Nasdaq market closes on Thursday, October 28, 2010.  Neurocrine will ... its financial results and provide a Company update Friday morning, ... Pacific Time). Participants can access the live conference ...
... NeurogesX, Inc. (Nasdaq: NGSX ), a biopharmaceutical ... therapies, today announced plans to pursue a U.S. label ... with painful HIV-associated neuropathy (HIV-AN, also referred to as ... recent meeting with the U.S. Food and Drug Administration ...
Cached Biology Technology:Heiner Dreismann, Ph.D., Former President of Roche Molecular Systems, Joins the HistoRx Board of Directors 2NeurogesX to Pursue Expanded U.S. Label for Qutenza® (capsaicin) 8% Patch in HIV-Associated Neuropathy 2NeurogesX to Pursue Expanded U.S. Label for Qutenza® (capsaicin) 8% Patch in HIV-Associated Neuropathy 3NeurogesX to Pursue Expanded U.S. Label for Qutenza® (capsaicin) 8% Patch in HIV-Associated Neuropathy 4
(Date:4/27/2015)... 27, 2015 NXT-ID, Inc. (NASDAQ: NXTD ... focused on the growing mobile commerce market, announces that ... customers the first week of May, 2015 and will ... May. Gino Pereira , Chief ... the company as Wocket® enters the consumer market. We ...
(Date:4/17/2015)... Canada , April 17, 2015 ... growing security concerns, and technological advancement to drive ... until 2020   According ... Saudi Arabia Biometric Systems Market Forecast &  Opportunities, 2020 ", biometric systems ... is projected to register growth at CAGR of ...
(Date:4/10/2015)... 2015 Research and Markets ( ... "Security Competitive Profiles - NEC" report to their ... NEC will continue to supply a range of IT ... a company focus on the development of a Big ... opportunities in the Asia-Pacific region ...
Breaking Biology News(10 mins):Wocket, the Smartest Wallet You Will Ever Own, Announces Shipment to Pre-order Customers 2Wocket, the Smartest Wallet You Will Ever Own, Announces Shipment to Pre-order Customers 3Saudi Arabia Biometric Systems Market to Grow at 22% Through 2020, Says TechSci Research 2Saudi Arabia Biometric Systems Market to Grow at 22% Through 2020, Says TechSci Research 3NEC Security Competitive Profile 2015 2
... Researchers have established the conditions that foster formation of ... high-fructose corn syrup (HFCS) often fed to honey bees. ... of Agricultural and Food Chemistry , could also help ... of other human foods that contain HFCS. The substance, ...
... in northern Australia, finding black holes in space, to ... outstanding work of some of its scientists and staff ... are awarded each year to staff of the CSIRO ... since 1985, the CSIRO Medals have been presented to ...
... , SAN DIEGO, Oct. 13 CareFusion Corporation (NYSE: ... corporation, today announced the launch of the EnVe(TM) ventilator ... adult patients. Weighing only 10 pounds, the EnVe ventilator ... and offers the latest in portable and ventilation technology ...
Cached Biology News:CSIRO medal winners 2CSIRO medal winners 3CareFusion Launches 10-Pound High-Performance Critical Care Ventilator in the U.S. 2CareFusion Launches 10-Pound High-Performance Critical Care Ventilator in the U.S. 3
...
... SYBR Green Mixes are optimised for SYBR Green ... to perform Quantitative PCR, with the exception of ... Mix contains optimal levels of active SYBR Green ... a proprietary reaction buffer that enables detection of ...
Rabbit polyclonal to Vitronectin ( Abpromise for all tested applications). Antigen: Full length native Vitronectin (Cow) Entrez Gene ID: 7448 Swiss Protein ID: P04004...
... PRMT5 Arginine methylation is an irreversible ... been linked to protein activity. At least ... identified in mammalian cells. These enzymes have ... by methylation of key proteins in several ...
Biology Products: