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Aeolus Pharmaceuticals, Inc.
Aeolus Pharmaceuticals Completes Senior Convertible Debt Financing
August 23rd, 2008
Aeolus Pharmaceuticals, Inc. (OTCBB:AOLS), announced that it has raised $500,000 through the sale of newly issued Senior Convertible Notes and warrants to selected institutional investors. The investors also committed to invest another $500,000 over the next four months and have the option to invest an additional $4,000,000 over the next eighteen months. The Senior Convertible Notes bear interest at a rate of 7% per year and mature on the 30-month anniversary of their date of issuance. In addition, the Investors were granted warrants to purchase up to 2,000 shares of common stock for every $1,000 in principal amount of Notes purchased. The warrants have an initial...
Source: Law & Health Weekly (2008-08-23)
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