Radient Pharmaceuticals swaps convertible promissory notes for shares

California-based company issues 1.14 million shares to two investors

By Devika Patel

Knoxville, Tenn., Jan. 24 - Radient Pharmaceuticals Corp. exchanged some of its convertible promissory notes for 1,140,357 common shares, according to an 8-K filed Monday with the Securities and Exchange Commission.

The exchange agreement was negotiated with the noteholders, Hudson Bay Fund, LP and Hudson Bay Master Fund Ltd., on Jan. 21 after the investors filed a complaint against the company in June.

Radient is a Tustin, Calif., pharmaceutical company.

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