Navigation Links
Synova Completes Sale of $3.3 Million in Senior Convertible Notes and Warrants
Date:9/20/2007

MEDIA, Pa., Sept. 20 /PRNewswire-FirstCall/ -- Synova Healthcare Group, Inc. (OTC Bulletin Board: SNVH), today announced that it completed the sale of approximately $3.3 million in aggregate notional principal amount of its 6.5% senior convertible promissory notes, Series B, due September 19, 2012, and related common stock purchase warrants. This sale was effected as the initial part of an ongoing private placement of notes and warrants in the aggregate notional principal amount of up to $5 million. The notes were sold to certain accredited investors and foreign investors.

The notes mature on September 19, 2012 and are convertible into shares of Synova common stock at a conversion rate of one share for every $1.00 of principal and accrued and unpaid interest converted, subject to anti-dilution adjustments for certain corporate transactions. Synova's obligations under the notes are unsecured.

As part of this offering, Synova issued a warrant to each purchaser of the notes. The warrants have a term of five years and are exercisable for shares of Synova common stock at a price of $1.00 per share, subject to anti-dilution adjustments for certain corporate transactions. Each warrant entitles the holder to acquire a number of shares of Synova common stock equal to 180% of the number of shares that such holder could acquire upon conversion of such holder's notes. Synova will use the net proceeds received from this offering to provide continued investment in the Today(R) Sponge, to further expand its growing portfolio of women's health care products, and for general corporate purposes.

The offer and sale of these notes required the consent of the holders of Synova's existing 6.5% senior convertible promissory notes due January 12, 2012. As consideration for these consents and certain other waivers of, and amendments to, various agreements related to the January notes, Synova and its subsidiaries agreed to grant to the holders of the January notes a first lien on substantially all of their assets.

The securities described in this press release were not registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

About Synova Healthcare Group, Inc.

Synova Healthcare Group, Inc. is committed to delivering innovative products that provide meaningful improvements in women's healthcare. Through its subsidiaries, it is focused on the development, distribution, marketing and sale of women's healthcare products related to contraception, vaginal health, menopause management, fertility planning, obstetrics and personal care. Its goal is to provide healthcare solutions that address every stage of a woman's life.

Synova currently markets and sells products under the brand names Today(R), Fem-V(TM), MenoCheck(R) and MenocheckPro(R). The Today(R) Sponge is a hormone-free contraceptive that combines barrier, spermicidal and absorptive methods to prevent conception. Fem-V(TM) is a non-invasive diagnostic test designed to assist women in detecting and diagnosing the presence of elevated vaginal acidity, often indicating a vaginal infection. MenoCheck(R) and MenocheckPro(R) are in-home and in-office non-invasive diagnostic tests used to detect and diagnose the onset of menopause. For more information, please visit Synova's website at http://www.synovahealthcare.com.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Such risks and uncertainties include the ability to complete the private placement described in this press release and the other risks and uncertainties discussed in the Company's Form 10-KSB for the year ended December 31, 2006, as filed with the Securities and Exchange Commission on February 26, 2007, and the Company's Form 10-QSB for the six months ended June 30, 2007, as filed with the SEC on August 14, 2007, as well as in the Company's other periodic reports and filings with the SEC. There can be no assurance that such factors will not affect the accuracy of such forward-looking statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information set forth in this Press Release including such forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy; nor will there be any sale of securities of Synova Healthcare Group, Inc. in any state where such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of those states.


'/>"/>
SOURCE Synova Healthcare Group, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Synova Acquires Rights to Today Sponge Contraceptive, Plans Advertising Campaign
2. iGATE Completes Phase I Testing Of Meningitis Vaccine
3. Delhi Hospital Completes 100 Liver Transplants
4. Roche Completes Acquisition of BioVeris
5. Drug May Make Breathing Easier for Millions
6. Hundred million dollar gift for malaria institute
7. George Bush pledges 200 million dollars for AIDS relief
8. Hope for 11 million children facing death from illnesses
9. The forgotten epidemic killing millions
10. WHO and UNAIDS unveil plan to get 3 million AIDS patients on treatment by 2005
11. Over Six Million HIV Infected People In South Africa- Finds A Survey
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer is helping ... fitness app. The fitness app plans to fix the two major problems leading the fitness ... size fits all type program , They don’t eliminate all the reasons people ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica Scruggs ... for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs surgery, ... Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, MD, ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... ... the United States, named Dr. Sesan Ogunleye, as the Medical Director of its new ... the facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, ... Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments in ... the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... Research and Markets has ... 2015-2025: Applications, Technologies, Forecasts" report to their ... Electronics, Smart Skin, Structural Health Monitoring, Composite Smart ... electronics involves electronic and/or electrical components and circuits ... structures such as vehicle bodies or conformally placed ...
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, a ... invasive and more durable cerebrospinal fluid treatments, today ... The Series-A funding is led by Innova Memphis, ... and other private investors.  Arkis, new financing will ... and the market release of its in-licensed Endexo® ...
Breaking Medicine Technology: