By Sheri Kasprzak
New York, June 2 - CepTor, Inc. said it plans to raise up to $6 million and at least $1.5 million from a private placement of convertible notes.
The one-year notes bear interest at 6% annually and are convertible into common shares at $0.15 each.
Brookshire Securities Corp. is the placement agent.
The placement is expected to close June 30, but the offering may be extended.
CepTor, located in Hunt Valley, Md., is a development-stage biopharmaceutical company engaged in the development of cell-targeted therapeutics for the treatment of neuromuscular and neurodegenerative diseases with a focus on orphan diseases.
| Issuer: | CepTor, Inc.
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| Issue: | Convertible notes
|
| Amount: | $6 million
|
| Maturity: | One year
|
| Coupon: | 6%
|
| Price: | Par
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| Yield: | 6%
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| Conversion price: | $0.15
|
| Warrants: | No
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| Placement agent: | Brookshire Securities Corp.
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| Pricing date: | May 26
|
| Settlement date: | June 30, unless extended
|
| Stock symbol: | OTCBB: CEPO
|
| Stock price: | $0.18 at close May 26
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