By Devika Patel
Knoxville, Tenn., Nov. 13 - Cardium Therapeutics, Inc. sold $6 million in one-year 12% notes in a private placement on Nov. 10, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company also issued warrants for 9 million shares, which are exercisable at $2.00 for five years.
Empire Asset Management Co. was the agent. Barone Group was the lead investor.
San Diego-based Cardium develops therapeutic products and devices for cardiovascular, ischemic and related disorders.
| Issuer: | Cardium Therapeutics, Inc.
|
| Issue: | Notes
|
| Amount: | $6 million
|
| Maturity: | One year
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Warrants: | For 9 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.00
|
| Agent: | Empire Asset Management Co.
|
| Investor: | Barone Group (lead)
|
| Settlement date: | Nov. 10
|
| Stock symbol: | Amex: CXM
|
| Stock price: | $0.99 at close Nov. 10
|
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