Neovasc Announces Private Placement of Convertible Debt and Equity for Gross Proceeds of US$11.5 Million
Neovasc Inc. - Common Shares (NVCN)
Last neovasc inc. - common shares earnings: 3/30 04:08 pm
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US:NASDAQ Investor Relations:
neovasc.com/neovasc-investment/overview
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Source: PR Newswire
Upon closing of this agreement, cash and cash equivalents is expected to support operations into Q1 2020NASDAQ, TSX: NVCN VANCOUVER, May 14, 2019 /PRNewswire/ - Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ: NVCN)(TSX: NVCN), a leader in the development of minimally invasive transcatheter mitral valve replacement technologies and in the development of minimally invasive devices for the treatment of refractory angina, announced today that it has entered into an agreement to sell to Strul Medical Group LLC ("SMG") (i) a 15% original issue discount convertible debenture (the "Debenture") with a face value of US$11.5 million, for gross proceeds to the Company of US$9,775,000, and (ii) 3,349,514 common shares of the Company ("Common Shares") at a price of US$0.515 per Common Share, for gross proceeds to the Company of US$1,725,000 (collectively, the "Offering"). The Debenture will mature four years from the date of its issuance. Interest on the face value of the Debenture will be 8% f
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