Vyteris to repay outstanding convertible debentures

By Sheri Kasprzak

New York, Dec. 6 - Vyteris Holdings (Nevada), Inc. said it intends to repay in full its outstanding senior convertible debentures.

The company plans to pay the debentures on Dec. 11. The investors - Satellite Strategic Finance Associates, LLC; Satellite Strategic Finance Partners, Ltd.; Palisades Master Fund, LP; and Qubit Holdings LLC - may decline repayment of $1.425 million in principal of the debentures.

That portion of the debentures may be convertible into common shares at $0.25 each and will be due Aug. 19, 2008.

Once the remainder of the debentures is repaid, the investors may exercise their warrants on a cashless basis for 1.092 million shares.

Vyteris, based in Fair Lawn, N.J., develops transdermal drug delivery technologies.

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