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Article: Other News To Note.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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o Adherex Technologies Inc., of Ottawa, Ontario, closed a private placement of convertible notes totaling about C$3 million (US$2.2 million). The notes are one-year senior secured convertible notes that initially accrue 8 percent interest in the first year and may be extended for a second year at the company's option with interest at 12 percent. On the close of a subsequent round of financing of a minimum of C$5 million, the notes would automatically convert into the security or securities sold in that round on the same terms as that subsequent round, subject to regulatory approval. The notes also provide for conversion into common shares at the option of the holder in ...
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