Deals

Cormedix Places Senior Secured Debt

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Cormedix (CRMD) announced that it has raised $3 million in a Convertible Senior Secured Notes transaction. The fixed conversion price of the Convertible Senior Secured Notes is $0.35 per share, an approximate 20.94% premium to the market price ($0.29) of CRMD at deal announcement. A series of 7,500,000 60-Month Warrants with an exercise price of $0.40 per share (38.22% premium) was issued to the investors in this transaction. The Placement Agent and the investors were not disclosed. This Placement funded in tranches.

Deals

$2.5M Unit PIPE from Precision Optics

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Precision Optics Corp. (PEYE) announced that it has raised $2.5 million in a Unit (Common Stock and Warrants) transaction. The company manufactures optical systems for medical and industrial applications. The common stock was sold at $0.90 per share, an approximate 5% discount to the market price ($0.95) of PEYE at deal announcement. A series of 1,944,475 60-Month Warrants with an exercise price of $1.25 per share (31.58% premium) was issued to the investors in this transaction. Loewen, Ondaatje, McCutcheon Limited acted as the exclusive agent on the transaction.

Deals

Neptune Technologies & Bioresources in $30M CMPO

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Neptune Technologies & Bioresources (NEPT) announced that it has raised $30 million in a CMPO/Overnight transaction. The common stock was sold at $4.10 per share, an approximate 8% discount to the market price ($4.47) of NEPT at deal announcement. JMP Securities and RBC Capital Markets acted as co-lead agents, with Byron Capital Markets and John Thomas Financial acting as co-agents on the transaction. Placement Agent counsels were Morrison & Foerster and Stikeman Elliott, and issuer counsel was Osler, Hoskin & Harcourt. The transaction is expected to close by Oct. 2, 2012.

Deals

Horizon Pharma Raises $75M in Overnight Offering

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Horizon Pharma (HZNP) announced that it has raised $74,987,500 in a CMPO/Overnight transaction. The common stock was sold at $3.50 per share, an approximate 24% discount to the market price ($4.58) of HZNP at deal announcement. A series of 10,712,500 60-Month Warrants with an exercise price of $4.57 per share (0.22% discount) was issued to the investors in this transaction. Cowen and Company, JMP Securities, and Stifel Nicolaus Weisel acted as agents on the transaction. Placement Agent counsel was Goodwin Procter, and issuer counsel was Cooley.