Access Pharmaceuticals, Inc. (BULLETIN BOARD: ACCP) announced that it has executed arrangements for a $19.5 million recapitalization. The Company has entered into agreements with institutional investors to purchase an aggregate of $9.5 million in gross proceeds of the Company's newly issued Series A Convertible Preferred Stock. Lead investors in the placement transaction include SCO Capital Partners and Perceptive Life Sciences. In addition SCO Capital Partners, Oracle Partners and certain of their affiliates have agreed to exchange $10 million principal amount of senior debt into Series A Convertible Preferred Stock.
"We are delighted to complete this placement to...
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