By Devika Patel
Knoxville, Tenn., Feb. 8 - Puramed Bioscience Inc. arranged a $7.5 million private equity credit agreement with Southridge Partners II LP on Feb. 2, according to an 8-K filed Monday with the Securities and Exchange Commission.
Under the terms of the two-year agreement, Southridge may buy Puramed shares at a price per share equal to 92% of the average of two lowest closing bid prices of any two trading days, consecutive or inconsecutive, during the five-trading-day period following a put notice.
Based in Schofield, Wisc., Puramed BioScience develops and markets a line of non-prescription medicinal or healthcare products.
| Issuer: | Puramed Bioscience Inc.
|
| Issue: | Private equity credit agreement
|
| Amount: | $7.5 million
|
| Tenor: | Two years
|
| Price: | 92% of the average of two lowest closing bid prices of any two trading days during the five-trading-day period following a put notice
|
| Warrants: | No
|
| Investor: | Southridge Partners II LP
|
| Settlement date: | Feb. 2
|
| Stock symbol: | OTCBB: PMBS
|
| Stock price: | $0.72 at close Feb. 2
|
| Market capitalization: | $8.2 million
|
© 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.
