Innovus Pharmaceuticals redeems rest of outstanding convertibles

By Marisa Wong

Morgantown, W.Va., March 22 – Innovus Pharmaceuticals, Inc. said it redeemed all of its remaining outstanding convertible notes.

With the cash redemption of the convertibles, the company has reduced its current debt obligation by about $1.3 million and eliminated roughly $300,000 of related derivative liabilities, according to a press release.

Innovus is an over-the-counter consumer goods and specialty pharmaceutical company based in San Diego.

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