Nuvo Research to redeem $3.49 million 5% convertibles due 2010 at 102

By Marisa Wong

Milwaukee, Feb. 4 - Nuvo Research Inc. gave notice that it will redeem its $3.486 million outstanding 5% convertible debentures due Nov. 16, 2010 on March 12.

The debentures will be redeemed at 102 plus interest accrued up to the redemption date, for a total of $1,035.75 for each $1,000 of principal amount of the debentures.

Holders have the right to convert their debentures into common shares at $0.138 per share at any time prior to the redemption date.

Based in Mississauga, Ont., Nuvo is a topical and transdermal drug researcher and developer.

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