Published in Lab Business Week, November 5th, 2006
Funding was completed on October 2, 2006. Rodman & Renshaw, LLC acted as the sole placement agent for the financing. The proceeds will be used to strengthen the company's cash position, repay certain short-term debt, support commercialization of its specialty pharmaceuticals business and develop intranasal antifungals for chronic sinusitis.
The debenture offering provides investors with an 8% coupon and 35% warrant coverage at an exercise price of $2.75 per...
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