Deals

MRI Interventions Raises $3.5M in Conv Debt Deal

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MRI Interventions Inc. (MRIC) announced that it has raised $3,550,000 in a Non-Convertible Promissory Notes transaction. The securities accrue interest at a rate of 12%. A series of 1,065,000 60-Month Warrants with an exercise price of $1.75 per share (31.6% premium) was issued to the investors in this transaction. Issuer counsel was Baker & Hostetler, LLP. The transaction closed on March 07, 2014.

Deals

Biostar Pharmaceuticals Raises $4.1M in RDO at 16% Discount via Moody Capital, Axiom

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Biostar Pharmaceuticals Inc. (BSPM) announced that it has raised $4,108,500 in a Registered Direct transaction. The common stock was sold at $2.49 per share, an approximate 16% discount to the market price ($2.97) of BSPM at deal announcement. A series of 660,000 36-Month Warrants with an exercise price of $3.23 per share (8.75% premium) was issued to the investors in this transaction. Moody Capital Solutions Inc. and Axiom Capital Management Inc. acted as agents on the transaction. The investors were Cranshire Capital Master Fund, Limited, Hudson Bay Master Fund Limited, and Equitec Specialists, LLC.

Deals

Eastgate Acquisitions Corp. Raises $1.1M via Chardan Capital

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Eastgate Acquisitions Corporation (ESAQ) announced that it has raised $1,100,000 in a Units (Common Stock + Warrants) transaction. The common stock was sold at $0.25 per share. A series of 3,300,000 60-Month Warrants with an exercise price of $0.25 per share was issued to the investors in this transaction. Chardan Capital Markets acted as the exclusive agent on the transaction. The transaction closed on March 10, 2014.

Deals

OvaScience Closes $50M CMPO at 12% Discount via Leerink Swann-led Syndicate

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OvaScience, Inc. (OVAS) announced that it has raised $50,000,000 in a CMPO/Overnight transaction. The common stock was sold at $10.00 per share, an approximate 12% discount to the market price ($11.36) of OVAS at deal announcement. Leerink Swann acted as Sole Book-Running Manager with Cantor Fitzgerald, H.C. Wainwright, JMP Securities, Ladenburg Thalmann, and Roth Capital Partners as Co-Managers on the transaction. The investors included Longwood Fund. Underwriter counsel was Goodwin Procter and issuer counsel was Mintz, Levin, Cohn, Ferris, Glovsky & Popeo.