Deals

Novelos Therapeutics Raises $4M in Conv Debt Deal

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Novelos Therapeutics, Inc. (NVLT) announced that it has raised $4,000,000 in a Convertible Debentures transaction. The fixed conversion price of the Convertible Debentures is $0.50 per share, an approximate 35.14% premium to the market price ($0.37) of NVLT at deal announcement. A series of 8,000,000 60-Month Warrants with an exercise price of $1.00 per share was issued to the investors in this transaction. The transaction closed on 02/07/2014. via PlacementTracker.

Deals

Skyline Medical Raises $2M in Conv Preferred Deal from Insiders

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Skyline Medical Inc. (SKLN) announced that it has raised $2,055,000 in a Convertible Preferred Stock transaction. The fixed conversion price of the Convertible Preferred Stock is $0.26 per share, an approximate 8.33% premium to the market price ($0.24) of SKLN at deal announcement. A series of 1,600,000 60-Month Warrants with an exercise price of $0.33 per share (35.42% premium) was issued to the investors in this transaction. The Investors include the Company's CEO. Issuer counsel was Reed Smith.

Deals

CytRx Closes $74.75M CMPO at 19% Discount via Jefferies-led Deal

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CytRx Corporation (CYTR) announced that it has raised $74,750,000 in a CMPO/Overnight transaction. The common stock was sold at $6.50 per share, an approximate 19% discount to the market price ($7.98) of CYTR at deal announcement. Jefferies & Company acted as Sole Book-Running Manager with Oppenheimer, Aegis Capital, and H.C. Wainwright as Co-Lead Managers on the transaction. Underwriter counsel was Latham & Watkins and issuer counsel was TroyGould. The transaction is expected to close on February 5, 2014. via PlacementTracker.

Deals

Alimera Sciences Raises $37.5M Priced near Market via Cowen

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Alimera Sciences Inc. (ALIM) announced that it has raised $37,500,000 in a Common Stock transaction. The common stock was sold at $6.00 per share, an approximate 3% discount to the market price ($6.16) of ALIM at deal announcement. Cowen and Company, LLC acted as the exclusive agent on the transaction. Issuer counsel was Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Goodwin Procter acted as agent counsel. The private placement is subject to customary closing conditions and is expected to close by 01/31/2014.