By Sheri Kasprzak
New York, May 9 - CepTor Corp. has entered into an agreement to settle a $6 million private placement of 6% convertible notes.
The one-year notes will be purchased by Margie Chassman.
The notes are convertible into stock at $0.15 per share.
CepTor may repurchase the notes at 200% of face value plus interest before Sept. 30.
The investor will receive warrants equal to 100% of the shares issuable upon conversion. The warrants are exercisable at $0.30 each for five years.
CepTor, located in Hunt Valley, Md., is a development-stage biopharmaceutical company engaged in the development of cell-targeted therapeutics for the treatment of neuromuscular and neurodegenerative diseases with a focus on orphan diseases.
| Issuer: | CepTor Corp.
|
| Issue: | Convertible notes
|
| Amount: | $6 million
|
| Maturity: | One year
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Conversion price: | $0.15
|
| Warrants: | Equal to 100% of the shares issuable upon conversion
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.30
|
| Investor: | Margie Chassman
|
| Announcement date: | May 9
|
| Stock symbol: | OTCBB: CEPO
|
| Stock price: | $0.31 at close May 9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
