By Laura Lutz
Des Moines, June 5 - Resverlogix Corp. negotiated a $25 million private placement of subordinated convertible promissory notes on similar terms to a deal that closed on January 4.
The 8% notes will be convertible into common stock at C$17.50 per share.
The investors will also receive warrants for about 530,000 shares. The warrants will be exercisable at C$20.63 each.
Oppenheimer & Co. Inc. is the placement agent.
Settlement is expected on June 6.
Based in Calgary, Alta., Resverlogix is a biotechnology company focused on therapies for cardiovascular disease.
| Issuer: | Resverlogix Corp.
|
| Issue: | Subordinated convertible promissory notes
|
| Amount: | $25 million
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$17.50
|
| Warrants: | For 530,000 shares
|
| Warrant strike price: | C$20.63
|
| Agents: | Oppenheimer & Co. Inc.
|
| Pricing date: | June 5
|
| Settlement date: | June 6
|
| Stock symbol: | Toronto: RVX
|
| Stock price: | C$18.32 at close June 5
|
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