Navigation Links
BMP Sunstone Exchanges and Calls Outstanding Notes Due May 2009
Date:3/16/2009

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,
       2011.

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 http://www.bmpsunstone.com .


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... ... February 12, 2016 , ... Coco Libre, the maker of ... Carpet Events LA GRAMMY’s Style Lounge Event. Coco Libre will offer musicians and celebrities ... before the big event. The invitation-only gifting suite, held this year at the W ...
(Date:2/12/2016)... ... February 12, 2016 , ... ... (WaaS), today announced the integration of Clarity Intelligence Platform (CIP) into Cielo®, a ... offer real-time business intelligence (BI) to their small and medium business (SMB) clients. ...
(Date:2/12/2016)... NC (PRWEB) , ... February 12, 2016 , ... AssureVest ... surrounding areas, is initiating a charity drive that will raise funds earmarked to purchase ... John C. Tayloe Elementary School. , “My school is in a low-income area and ...
(Date:2/12/2016)... ... , ... Erlanger Agency has announced a new partnership in its ongoing community ... on the fight against breast cancer, fundraising for a local woman named Carmen, who ... Carmen is a loving single mother of two boys who also serves as caregiver ...
(Date:2/12/2016)... ... February 12, 2016 , ... Miami Dental Specialists is excited to bring patients ... office. Beginning in January, Miami Dental Specialists will offer the non-metal implants as a ... office to be chosen by the dental implant manufacturer, Straumann, to bring this cutting-edge ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... 12, 2016  Apellis Pharmaceuticals, Inc., today ... million Series D preferred stock financing, co-led ... Capital Group and venBio Global Strategic Fund, ... IB Investment, and Epidarex Capital. The proceeds of ... advance clinical trials in the Company,s ongoing ...
(Date:2/11/2016)... -- - Cardiac Marker Diagnostic Testing ... Cancer Therapy. - European Point of Care Diagnostic ... - Key Diagnostic Testing Markets. - Molecular Diagnostics ... Testing. - Molecular Diagnostics in Infectious Disease Testing. ... Products World Markets. - Point of Care Diagnostic ...
(Date:2/11/2016)... INC. (NasdaqCM: PDEX) today announced financial results for its fiscal ... filed its Quarterly Report on Form 10-Q for the second ... Commission today. --> --> ... --> Net sales for the three months ended ... million from $2.8 million for the three months ended December ...
Breaking Medicine Technology: