By Devika Patel
Knoxville, Tenn., Oct. 18 - NexgenRx Inc. announced it has raised C$2 million in a non-brokered private placement of 8% convertible debentures. The deal priced on Sept. 24.
The three-year notes are convertible into common shares at a conversion rate of C$0.35 per share at any time after one year and are redeemable at par after one year. The notes have a four-month hold period.
Toronto-based NexgenRx is a health benefits management company.
| Issuer: | NexgenRx Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$2 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$0.35
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 18
|
| Stock symbol: | TSX Venture: NXG
|
| Stock price: | C$0.25 at close Sept. 21
|
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