Investors also receive 600,000 common shares; note converts at $0.55
By Devika Patel
Knoxville, Tenn., Jan. 4 - Adamis Pharmaceuticals Corp. settled a $600,000 private placement of 10% convertible promissory notes on Dec. 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The nine-month notes are initially convertible at $0.55 per common share. The conversion price is a 22.54% discount to the Dec. 28 closing share price of $0.71.
Investors also received 600,000 common shares.
The specialty pharmaceutical company is based in Del Mar, Calif.
| Issuer: | Adamis Pharmaceuticals Corp.
|
| Issue: | Convertible promissory notes, 600,000 common shares
|
| Amount: | $600,000
|
| Maturity: | Sept. 30, 2013
|
| Coupon: | 10%
|
| Conversion price: | $0.55
|
| Warrants: | No
|
| Settlement date: | Dec. 31
|
| Stock symbol: | OTCBB: ADMP
|
| Stock price: | $0.71 at close Dec. 28
|
| Market capitalization: | $74.21 million
|
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