Company sells 10% secured convertible debentures due 2013 in offering
By Devika Patel
Knoxville, Tenn., Jan. 30 - Rosetta Genomics Ltd. completed a $1.75 million private placement of senior secured convertible debentures on Jan. 27, according to a 6-K filed Monday with the Securities and Exchange Commission. Aegis Capital Corp. was the agent.
The 10% debenture matures Jan. 26, 2013 and may be prepaid. Up to $300,000 of the note is convertible into common shares at $0.0944 per share, which is a 78.05% discount to the Jan. 26 closing share price of $0.43.
Rosetta has also agreed to negotiate a license agreement with a designee of the debenture holders. The licensee would pay a one-time license fee of $1.25 million and receive a fully paid, worldwide, exclusive license to all of the company's issued patents, patent applications, patent filings, know how, data, other intellectual property and license and contract rights.
Rosetta Genomics develops and provides microRNA-based molecular diagnostics. It is based in Rehovot, Israel.
| Issuer: | Rosetta Genomics Ltd.
|
| Issue: | Senior secured convertible debenture
|
| Amount: | $1.75 million
|
| Maturity: | Jan. 26, 2013
|
| Coupon: | 10%
|
| Conversion price: | $0.0944
|
| Call: | Yes
|
| Warrants: | No
|
| Agent: | Aegis Capital Corp.
|
| Settlement date: | Jan. 27
|
| Stock symbol: | Nasdaq: ROSG
|
| Stock price: | $0.44 at close Jan. 27
|
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