Finance
Advanced Biotherapy completes stock sale and debt conversion
Published in Health Business Week, November 17th, 2006
This investment, plus the previous $1.1 million invested by Richard P. Kiphart around August 28, 2006, completes the $6.5 million capital raise previously announced by the company.
The company also announced the conversion of all convertible notes, other promissory notes and accrued salaries owed by the company, except for a nominal amount which was paid out in cash. The company has no long-term debt and has approximately $6.2 million in cash, as of October 12, 2006.
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Source: Health Business Week (2006-11-17)
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