Deals

Arno Therapeutics in Convertible PIPE

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Arno Therapeutics (ARNI) announced that it has raised $12.7 million in a Convertible Senior Debentures transaction with investors including directors and Sabby Management. The fixed conversion price of the Convertible Debentures is $0.30 per share. A series of 42,350,000 60-Month Warrants with an exercise price of $0.50 per share were issued to the investors in this transaction. An additional series of 42,350,000 18-Month Warrants with an exercise price of $0.30 per share were issued to the investors in this transaction. Maxim Groupacted as the exclusive agent on the transaction.

Deals

Hercules Technology Growth Invests in NuPathe

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NuPathe (PATH) announced that it has raised $8.5 million in a Non-Convertible Secured Promissory Note transaction with Hercules Technology Growth Capital. The securities accrue interest at a rate of 10%. A series of 106,631 60-Month Warrants with an exercise price of $2.79 per share (4.45% discount) was issued to the investors in this transaction. Additionally the Investor recieved 50,000 shares of Common Stock for the Investment. Issuer counsel was Morgan, Lewis & Bockius.

Deals

FluoroPharma Medical Issues Common Stock PIPE

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FluoroPharma Medical (FPMI) announced that it has raised $1.55 million in a Unit (Common Stock and Warrants) transaction. The common stock was sold at $0.85 per share, an approximate 24% premium to the market price ($0.69) of FPMI at deal announcement. A series of 1,819,118 12-Month Warrants with an exercise price of $0.90 per share (31% premium) was issued to the investors in this transaction. Brookline Group acted as the exclusive agent on the transaction, and issuer counsel was Loeb & Loeb. The transaction closed on Nov.

Deals

TrovaGene Raises Cash with Unit Offering

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TrovaGene (TROV) announced that it has raised $3.76 million in a Unit (Common Stock and Warrants) transaction. The common stock was sold at $4.00 per share, an approximate 2% discount to the market price ($4.09) of TROV at deal announcement. A series of 940,000 60-Month Warrants with an exercise price of $5.32 per share (30.07% premium) was issued to the investors in this transaction. The transaction closed on Nov. 21, 2012.