Navigation Links
BMP Sunstone Exchanges and Calls Outstanding Notes Due May 2009

PLYMOUTH MEETING, Pa., March 16 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone", "we" or the "Company"), today announced that the Company is calling its $12.4 million of 10.0% Secured Promissory Notes due May 1, 2009 (the "Original Notes"). In addition, the Company announced the completion of the following transactions:

    -- Exchanged $1.0 million in principal amount 10.0% senior secured
       promissory notes for $1.0 million in principal amount of 12.5% March
       Exchange Secured Convertible Notes due July 1, 2011.

    -- Issued $6.35 million in principal amount of 12.5% March Cash Secured
       Convertible Notes due July 1, 2011 to qualified institutional and
       accredited investors.

    -- Completed a registered direct public offering of $7.0 million in
       principal amount of 12.5% Subordinate Convertible Notes due July 1,

As a result of these note financings, the Company now has an aggregate of $25 million of 12.5% notes due July 1, 2011. Due to the timing of these transactions, the Company has delayed the filing of its Form 10-K and will file a Form 12b-25 in order to secure an extension. The Company will release fourth quarter and full year 2008 financial results on Tuesday, March 17, 2009, via press release and conference call to be held at 5:00 pm ET.

David Gao, Chief Executive Officer of BMP Sunstone, commented, "This exchange completes our effort to significantly increase our financial flexibility so that we can put cash to work to grow our business, integrate our recent acquisitions and launch new products. We are particularly pleased that our existing investors have continued to support the Company. We believe we are well-positioned to capitalize on the long-term growth prospects in China's dynamic healthcare marketplace, especially during these challenging economic conditions."

Additional details regarding the note financing transactions noted above, including a description of the notes, the conversion price and repricing mechanism and the security for the March Exchange Second Convertible Notes and March Cash Second Convertible Notes, are included in two Forms 8-K filed with the Securities and Exchange Commission earlier today.

About BMP Sunstone Corporation

BMP Sunstone Corporation is a specialty pharmaceutical company that is building a proprietary portfolio of branded pharmaceutical and healthcare products in China. Currently this portfolio includes eight products under exclusive multi-year licenses for China, primarily focused on women's health and pediatrics. The Company also owns Sunstone Pharmaceutical Co. Ltd., which manufactures leading pediatric and women's health products, including two of China's most recognized brands, "Hao Wawa" and "Confort," sold through approximately 120,000 pharmacies in China. The Company also provides pharmaceutical distribution services through its subsidiaries in Beijing and Shanghai, and through its affiliate, Guangzhou Pharmaceuticals Corp. The Company has its main office in Beijing, with a US office in Plymouth Meeting, PA. For more information, please visit .

SOURCE BMP Sunstone Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. BMP Sunstone Reiterates Commitment to Quality, Innovation and Long-Term Growth at Meeting with Senior Officials
2. BMP Sunstone Announces Exchange Offer of $10.7 Million of Outstanding Secured Notes
3. BMP Sunstone to Report Third Quarter 2008 Financial Results
4. BMP Sunstone Signs Letter of Intent to Acquire Shengda Pharmaceutical Co.
5. BMP Sunstone Completes Acquisition of Shanghai Rongheng Pharmaceutical Co., Ltd
6. BMP Sunstone Announces Official Launch of Ferriprox in PRC
7. BMP Sunstone Announces Participation in June Investor Conferences
8. BMP Sunstone Reports First Quarter 2008 Financial Results
9. BMP Sunstone Donates RMB 1.2 Million to Earthquake Relief
10. BMP Sunstone Announces Participation in May Investor Conferences
11. BMP Sunstone to Report First Quarter 2008 Financial Results
Post Your Comments:
(Date:12/1/2015)... Angeles, CA (PRWEB) , ... December 01, 2015 , ... ... United States, today announced that its iconic bottle has won top honors in Beverage ... category. The Company also announced that it has been selected as a 2015 ...
(Date:12/1/2015)... ... December 01, 2015 , ... Growth in medical payments per workers’ compensation ... utilization of hospital and nonhospital care, according to a recent study by the Workers ... 16th Edition , found medical payments per claim with more than seven days of ...
(Date:12/1/2015)... ... December 01, 2015 , ... CloudLIMS today ... Golden Bridge Business Awards under the New Products and Services category for its ... sample management software that helps labs organize data and track samples ...
(Date:12/1/2015)... ... December 01, 2015 , ... Diabetic ... United States. Podiatrists are well aware that psychology-based patient non-compliance (disobedience of a ... catastrophic contributors to diseases of the diabetic foot. The American Board of ...
(Date:12/1/2015)... IL (PRWEB) , ... December 01, 2015 , ... ... keeping their independence is everything. That is why Hollister Incorporated has launched the ... to offer this next product in the VaPro touch free catheter portfolio,” said ...
Breaking Medicine News(10 mins):
(Date:12/1/2015)... , Dec. 1, 2015 ... today announced that its Chief Executive Officer, ... the Oppenheimer Annual Healthcare Conference in New ... in the conference through a webcast on ... , --> ...
(Date:12/1/2015)... India and PITTSBURGH , ... today announced that it expects to be the first ... markets funded by international donors, TLE400 (Tenofovir Disoproxyl Fumarate ... mg) for $99 per patient, per year. Mylan partnered ... TLE400. The significantly reduced price could generate savings of ...
(Date:12/1/2015)... Breg, Inc ., a premier provider ... it has been awarded three contracts by Novation, a ... will have access to improved pricing for Breg,s portfolio ... goods dedicated to advancing orthopedic care.  ... population, rising prevalence of chronic conditions and the health ...
Breaking Medicine Technology: