By Sheri Kasprzak
New York, Aug. 9 - Neurochem Inc. obtained a US$60 million equity line.
The two-year line allows for the purchase of shares at a 3% discount to the company's closing stock price at the time of a draw.
There is a US$25 million minimum limit on the facility for the two years.
On Wednesday, the company also released its second-quarter earnings statement.
The company reported a net loss of C$20,374,000 for the quarter, compared with a net loss of C$18,694,000 for the same quarter of 2005.
Neurochem, based in Laval, Quebec, develops therapeutics to treat and prevent disorders like strokes.
| Issuer: | Neurochem Inc.
|
| Issue: | Equity line
|
| Amount: | $60 million
|
| Tenor: | Two years
|
| Price: | 3% discount to the then-current market price at the time of a draw
|
| Warrant: | No
|
| Settlement date: | Aug. 9
|
| Stock symbol: | Toronto: NRM
|
| Stock price: | C$11.60 at close Aug. 9
|
|
|
© 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.
