REVA Medical pushes back put option date for convertible notes

By Marisa Wong

Morgantown, W.Va., Feb. 17 – REVA Medical, Inc. amended its convertible note dated Sept. 25, 2014 to postpone the put option date, according to an 8-K filing with the Securities and Exchange Commission.

The company is moving the date holders can request an early redemption of the notes to June 30, 2017 from Jan. 14, 2017.

The amendment to the notes also adds a requirement that the company complete a listing of its shares on the Nasdaq as another condition before the notes would automatically convert into shares of the company’s common stock. The existing requirements, which would continue, are that the company’s securities trade at or above A$0.60 on the Australian Securities Exchange for a 20-day period and that the company’s Fantom scaffold product receive CE Mark regulatory approval.

The company will hold a meeting of stockholders within 50 days to approve the changes.

The medical device company is based in San Diego.

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