Growth Capitalist (https://growthcapitalist.com/tag/biomed/page/33/)
Coronado Biosciences (CNDO). announced that it has raised $15,000,000 in a Non-Convertible Debentures transaction. A series of 73,009 Warrants with an exercise price of $5.65 per share (2.42% discount) was issued to the investors in this transaction. The investor was Hercules Technology Growth Capital (HTGC), a specialty finance company that has invested $97 million in nine debt PIPEs since 2007. See the PlacementTracker Deal Summary.
Oramed Pharmaceuticals (ORMP) announced that it has raised $2.59 million in a Units (Common Stock and Warrants) transaction. The common stock was sold at $0.37 per share, an approximate 28% premium to the market price ($0.29) of ORMP at deal announcement. A series of 9,689,709 60-Month Warrants with an exercise price of $0.50 per share (72.41% premium) was issued to the investors in this transaction. The Placement Agent and the investors were not disclosed. The transaction closed on August 22, 2012.
Catalyst Pharmaceutical Partners (CPRX) announced that it has raised $6 million in a Registered Direct transaction. The common stock was sold at $1.50 per share, an approximate 21% discount to the market price ($1.89) of CPRX at deal announcement. A series of 1.2 million 60-Month Warrants with an exercise price of $2.08 per share (10.05% premium) was issued to the investors in this transaction. Roth Capital Partners acted as the exclusive agent on the transaction. Placement Agent counsel was Lowenstein Sandler and the issuer counsel was Akerman Senterfitt.
Northwest Biotherapeutics, Inc. (NWBO) raised $1.05 million when it placed a convertible promissory note with undisclosed investors. It was the twelfth PIPE for Northwest according to PlacementTracker data, which indicate the issuer has arranged financing through stock and debt placements as well as an equity line of credit. The Note matures 19 months after the issue date. Commencing seven months after the issuance of the Note, the Company is required to begin amortizing the Note, with monthly payments over the remaining 12 months of the term. It is the Company’s choice each month whether to make that month’s payment in cash or in common stock of the Company, as long as the Company does not default. If the Company elects to make any such monthly payment in stock, the conversion price for such payment will be at a 20% discount to the market price at the time of the conversion for that payment.
