Deals

Anavex Life Sciences Raises $10M in Conv Debt Deal at 33% Discount via Maxim

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Anavex Life Sciences Corporation (AVXL) announced that it has raised $10,000,000 in a Convertible Debentures transaction. The fixed conversion price of the Convertible Debentures is $0.30 per share, an approximate 33.33% discount to the market price ($0.45) of AVXL at deal announcement. A series of 33,300,000 60-Month Warrants with an exercise price of $0.30 per share (33.33% discount) were issued to the investors in this transaction. An additional series of 33,300,000 60-Month Warrants with an exercise price of $0.42 per share (6.677% discount) were issued to the investors in this transaction. Maxim Group LLC acted as the exclusive agent on the transaction.

Deals

Baxano Surgical Raises $10M via Conv Debt Deal at 20% Discount via Piper Jaffray, Stifel

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Baxano Surgical, Inc. (BAXS) announced that it has raised $10,000,000 in a Convertible Subordinated Debentures transaction. The fixed conversion price of the Convertible Subordinated Debentures is $1.06 per share, an approximate 20.3% discount to the market price ($1.33) of BAXS at deal announcement. A series of 9,428,000 36-Month Warrants with an exercise price of $1.19 per share (10.53% discount) was issued to the investors in this transaction. Piper Jaffray acted as Lead Placement Agent with Stifel Nicolaus Weisel as Co-Agent on the transaction. via PlacementTracker.

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

Advanced Cannabis Solutions Raises $7.5M at 73% Discount in Conv Notes Deal

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Advanced Cannabis Solutions, Inc. (CANN) announced that it has raised $7,500,000 in a Convertible Senior Secured Notes transaction. The fixed conversion price of the Convertible Senior Secured Notes is $5.00 per share, an approximate 72.83% discount to the market price ($18.40) of CANN at deal announcement. A series of 1,000,000 36-Month Warrants with an exercise price of $5.50 per share (70.11% discount) was issued to the investors in this transaction. The investor was Full Circle Capital Corporation. via PlacementTracker.