TetraLogic to exchange $3.25 million of notes for common stock, cash

By Tali Rackner

Norfolk, Va., March 3 – TetraLogic Pharmaceuticals Corp. entered into agreements with Geode Capital Master Fund Ltd. and Whitebox Advisors, LLC in which the holders will exchange $3.25 million of notes for an aggregate 524,304 shares of its unregistered common stock and $825,000.08 of cash, according to an 8-K filing with the Securities and Exchange Commission.

From and after consummation of the exchanges, the holders of the Geode notes and Whitebox notes agreed to waive any further rights to payment of principal or interest under the notes and any and all rights, title and interest under the notes and the indenture for the notes.

The Geode notes and the Whitebox Notes were originally acquired in connection with the company’s sale on June 23, 2014 of $47 million principal amount of its 8% convertible senior notes due 2019.

The clinical-stage biopharmaceutical company is based in Malvern, Pa.

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