Apollo Endosurgery, Inc. Announces $20 Million Private Placement of Convertible Debentures
Apollo Endosurgery, Inc. (APEN)
Last apollo endosurgery, inc. earnings: 10/30 04:05 pm
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Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--Apollo Endosurgery, Inc. (“Apollo”) (Nasdaq:APEN), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, today announced that it has entered into definitive agreements with accredited investors, including officers and affiliates of certain directors of the company and institutional investors, to sell a principal amount of $20 million of unsecured convertible debentures in a private placement. Apollo expects to issue the debentures on or about August 12, 2019, subject to the satisfaction of customary closing conditions.Interest on the debentures will be payable semi-annually in common stock, or in kind in certain situations, at a rate per annum of 6.0%. At any time prior to maturity, the debentures are convertible into shares of Apollo’s common stock at a conversion price of $3.25, subject to certain customary adjustments. Upon the satisfaction of price and other conditions, Apollo has the right to force the
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