Arch Therapeutics wraps $750,000 private placement of 8% convertibles

Anson, Equitec Specialists and Capital Ventures each invest $250,000

By Devika Patel

Knoxville, Tenn., March 13 – Arch Therapeutics, Inc. settled a $750,000 private placement of unsecured convertible notes with three investors from March 11 to March 13, according to an 8-K filed Friday with the Securities and Exchange Commission. Anson Investments Master Fund, LP, Equitec Specialists, LLC and Capital Ventures International each invested $250,000.

The 8% note is due on March 13, 2016 and is initially convertible into common shares at $0.20 per share, which is a 4.76% discount to the March 10 closing share price of $0.21.

The life science company is based in Wellesley, Mass.

Issuer:	Arch Therapeutics, Inc.
Issue:	Unsecured convertible note
Amount:	$750,000
Maturity:	March 13, 2016
Coupon:	8%
Conversion price:	$0.20
Warrants:	No
Investors:	Anson Investments Master Fund, LP (for $250,000), Equitec Specialists, LLC (for $250,000) and Capital Ventures International (for $250,000)
Settlement date:	From March 11 to March 13
Stock symbol:	OTCBB: ARTH
Stock price:	$0.21 at close March 10
Market capitalization:	$15.6 million

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