Business and Finance

Surgical and diagnostic product producer announces financing update

Published in Cancer Weekly, January 11th, 2005

Neoprobe Corporation (OTCBB:NEOP) announced that it raised $8.1 million through the issuance of $8 million and $100,000 in 4-year, convertible promissory notes to funds of Great Point Partners, LLC and David C. Bupp (Neoprobe's president and CEO), respectively.

The notes bear interest at 8% per annum and are freely convertible into shares of the company's common stock at a price of $0.40 per share. The conversion price represents the 10-day volume weighted average trading price of the company's common stock. As part of this transaction, Neoprobe issued 5-year warrants to the investors to purchase 10,125,000 shares of the company's common stock at an exercise price of...

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Source: Cancer Weekly (2005-01-11)

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