By Sheri Kasprzak
New York, Nov. 21 - EpiCept Corp. said it has concluded a $2 million private placement of senior convertible notes due Oct. 30, 2006.
The 8% notes were purchased by TVM Techno Venture Management, Private Equity Direct Finance, Merlin General Partners II Ltd., NIBC Principal Instruments IV BV, Claus Dieckell and Freidrich Dieckell.
The notes are convertible into common shares $0.71 each and may be prepaid at any time without penalty.
Proceeds will be used for working capital.
Based in Englewood Cliffs, N.J., EpiCept is a biopharmaceutical company focused on topical treatments for pain.
Issuer: | EpiCept Corp.
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Issue: | Senior convertible notes
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Amount: | $2 million
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Maturity: | Oct. 30, 2006
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Coupon: | 8%
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Price: | Par
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Yield: | 8%
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Conversion price: | $0.71
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Warrants: | No
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Investors: | TVM Techno Venture Management, Private Equity Direct Finance, Merlin General Partners II Ltd., NIBC Principal Instruments IV BV, Claus Dieckell and Freidrich Dieckell
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Settlement date: | Nov. 17
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