Published on 10/6/2009 in the Prospect News PIPE Daily.
New Issue: ReGen Biologics arranges $3 million private placement of convertibles
By Devika Patel
Knoxville, Tenn., Oct. 6 - ReGen Biologics, Inc. said it will sell up to $3 million of 8% secured convertible notes due April 2, 2010. It has already raised $250,000.
The notes were accompanied by five-year warrants.
ReGen, based in Franklin Lakes, N.J., develops orthopedic products.
| Issuer: | ReGen Biologics, Inc.
|
| Issue: | Secured convertible notes
|
| Amount: | $3 million
|
| Maturity: | April 2, 2010
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Warrants: | Yes
|
| Warrant expiration: | Five years
|
| Settlement date: | Oct. 6 (for $250,000)
|
| Stock symbol: | OTCBB: RGBO
|
| Stock price: | $0.85 at close Oct. 5
|
| Market capitalization: | $6.55 million
|
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