New Issue: Helix sells another $300,000 of convertibles in $3.2 million placement

By Devika Patel

Knoxville, Tenn., May 12 - Helix BioMedix, Inc. settled a $300,000 second tranche of private placement of 8% convertible promissory notes on May 10, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The company raised $2.9 million on March 5.

The notes mature on July 1, 2013 and are initially convertible into common shares at $0.80.

The investors also received warrants for 725,000 shares in the first tranche and warrants for 75,000 shares in the second; each of the warrants is exercisable at $0.80 for five years.

RBFSC, Inc. invested $2.2 million, Barry L. Seidman invested $150,000 and Lawrence Blake Jones invested $300,000.

Based in Bothell, Wash., Helix develops bioactive peptides used in skin care products.

Issuer:	Helix BioMedix, Inc.
Issue:	Convertible promissory notes
Amount:	$3.2 million
Maturity:	July 1, 2013
Coupon:	8%
Price:	Par
Yield:	8%
Conversion price:	$0.80
Warrants:	For 800,000 shares
Warrant expiration:	Five years
Warrant strike price:	$0.80
Investors:	RBFSC, Inc. (for $2.2 million), Barry L. Seidman (for $150,000) and Lawrence Blake Jones (for $300,000)
Settlement date:	March 5 (for $2.9 million), May 10 (for $300,000)
Stock symbol:	OTCBB: HXBM
Stock price:	$0.19 at close March 5
Market capitalization:	$9.49 million

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