Immune Pharma inks convertible debt deal at $1.75; shares slump 45% [Seeking Alpha]
IMMUNE PHARMACEUTICALS INC NE (IMNP)
US:NASDAQ Investor Relations:
immunepharma.com/investor-relations
Company Research
Source: Seeking Alpha
Immune Pharmaceuticals ( IMNP ) enters into an agreement with institutional investors for the sale of $858K aggregate principal amount of convertible debentures. The conversion price will be $1.75 per common share but could drop as low as $1.00 under certain conditions. Net proceeds should be $660K. The company has also lowered the conversion price of an earlier (May 4) convertible debt deal to $1.30 from $2.89 in order to secure investors' support for the new transaction. Yesterday's close was $2.20. Now read: ImmunoCellular down 11% premarket after investor update »
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