New Issue: Life Therapeutics sells $16.25 million convertible notes

New York, Aug. 23 - Life Therapeutics Ltd. said it priced a $16.25 million offering of convertibles notes in three tranches.

The individual pieces of the deal have maturities of two, three and four years.

The average interest rate across the offering is 9%.

The average price of the notes is A$1.10, a 12% premium to the closing price on Aug. 19.

Indus Capital Partners, LLC was lead investor.

Life Therapeutics will use proceeds to refinance its U.S. dollar-denominated debt and for working capital.

Closing is expected in the first week of September.

Life Therapeutics is an Atlanta and Sydney, Australia-based supplier of blood plasma, biological testing services and protein purification technology.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.