Omniture in new alliance; Oscient extends convertibles; Non-Invasive sells preferreds; Robex upsizes deal

By Kenneth Lim

Boston, Jan. 29 - Omniture, Inc. wrapped a $24.98 million private stock placement to WPP plc as part of a new strategic partnership.

Oscient Pharmaceuticals Corp. obtained an extension on the maturity of $13 million of convertibles that it says will give flexibility on the balance sheet.

Non-Invasive Monitoring Systems, Inc. took in $2.1 million through a private sale of convertible preferred stock to a director and to an existing shareholder.

Robex Resources Inc. upsized a private stock placement by a third to C$1 million, which will be used for working capital and for a prefeasibility study.

Omniture places to WPP

Omniture placed $24.98 million of its common stock to WPP Luxembourg Gamma Three Sarl as part of a strategic partnership.

The deal comprised about 2.85 million common shares at $8.76 apiece. Omniture common stock (Nasdaq: OMTR) closed at $9.29 on Thursday, lower by 3.33% or $0.32. Omniture has a market capitalization of $677.5 million.

Omniture will also issue to WPP Luxembourg Gamma Three Sarl a 21-month warrant on April 15, 2010 if certain performance milestones are met by WPP Group USA, Inc. The warrant will have an exercise price pegged to the five-day volume weighted average price before April 15, 2010.

Based in Orem, Utah, Omniture develops online business optimization software.

The partnership between the two companies will include joint marketing efforts, integration of products and development of new solutions.

"In the current economic environment and as clients continue to experiment with and develop their online budgets, the need for better analysis, measurability and focus on return on investment is more important than ever," WPP group chief executive Martin Sorrell said in a statement.

"This partnership will help our many mutual clients meet these objectives by equipping WPP agencies - across all geographies and disciplines - with the capabilities and tools needed to customize and deploy Omniture solutions in the most efficient and effective ways."

Omniture chief executive Josh James added: "The industry, and particularly WPP's customers, will benefit tremendously from having 500 people from the world's largest, most connected digital agencies thoroughly trained on the Omniture suite of products. This partnership will provide clients with the best of both worlds - technology and expertise - to optimize their marketing and drive ROI."

Oscient amends convertibles

Oscient Pharmaceuticals extended the maturity date and lowered the conversion price on $13 million of 5% convertible promissory notes that had been privately placed.

The amended notes will mature on Dec. 1, 2009 instead of Feb. 6, 2009.

The initial conversion price of the notes was lowered to $1.10 per share from $53.13. There is also a provisional for optional exchange into the company's 12.5% convertible guaranteed senior notes.

Oscient common stock (Nasdaq: OSCI) gained 1.01% or $0.002 to close at $0.21 on Thursday. The company has a market capitalization of $3 million.

Oscient is a Waltham, Mass.-based pharmaceutical company.

"This amendment to extend the maturity of this debt provides us with additional flexibility to further recalibrate our balance sheet and execute transactions to expand our portfolio of marketed products," Oscient president and chief executive Steven M. Rauscher said in a statement.

"This agreement builds on the successful exchange that we completed late in 2008, which helped reduce the firm's overall indebtedness by more than $125 million."

Non-Invasive sells preferreds

Non-Invasive Monitoring Systems raised $2.1 million through a private sale of convertible preferred stock to an existing shareholder and to a director.

The company sold 1,400 series D convertible preferreds at $1,500 apiece. Frost Gamma Investments Trust, which is controlled by investor Phillip Frost, and Hsu Gamma Investment LP, which counts Non-Invasive Monitoring chairwoman Jane Hsiao as partner, each took 700 preferreds, or $1.05 million.

Each preferred is convertible into 5,000 common shares for a conversion price of $0.30. Non-Invasive Monitoring common stock (OTCBB: NIMU) slipped 4.65% or $0.02 to close at $0.41 on Thursday. The company has a market capitalization of $27.9 million.

Based in North Bay Village, Fla., Non-Invasive Monitoring makes cardio-respiratory monitors.

Robex upsizes placement

Robex Resources is increasing its placement of stock and warrant units to C$1 million from C$750,000.

The company will now sell 20 million units of one common share and one warrant at C$0.05 apiece. Each two-year warrant will be exercisable at C$0.10 in the first year and at C$0.15 in the second year.

Robex (TSX: RBX), a C$3.9 million market capitalization company, saw its common stock close unchanged at C$0.055 on Thursday.

Proceeds will be used for working capital and the on-going prefeasibility study initiated on the Nampala gold orebody.

Montreal-based Robex is a mineral exploration company.

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