The latter is consistent with the backdoor-equity hypothesis, which predicts that convertible debt
issues by firms expected to issue common equity are better news for shareholders, since they signal management's confidence in the future performance of the issuer.
Spring Bank Pharmaceuticals announced that it has entered into a $20M convertible debt
financing agreement with Pontifax Medison Finance, a healthcare-dedicated venture debt fund.
As previously announced in early July 2019, the company restructured debt by issuing new convertible debt
in the principal amount of approximately USD 2.7 million.
Also, the company in early July 2019 restructured debt by issuing a new convertible debt
in the principal amount of about USD2.7m.
BANKING AND CREDIT NEWS-March 5, 2019-RegeneRx completes convertible debt
financing of USD 1.3m
Drug company RegeneRx Biopharmaceuticals Inc (OTCQB:RGRX) revealed on Wednesday the completion of a USD1.3m convertible debt
financing in two tranches.
His experience includes senior, subordinated and convertible debt
offerings, equity offerings, and representing clients in the life sciences, technology and REIT industries.
Cox brings more than 20 years of investment banking experience across buy-side and sell-side advisory transactions, strategic alternatives assessments and fairness opinions, as well as a range of capital-raising transactions, including initial public offerings, follow-on equity offerings, convertible debt
offerings, leveraged loan and high-yield debt offerings.
Each QFI "may not own 10 percent or more of the shares of any issuer whose shares are listed or convertible debt
instrument of the issuer," the CMA said.
Houston, TX, August 15, 2017 --(PR.com)-- SaaS customer that has developed a proprietary technology platform that connects global brands to single or multi-unit hoteliers and their guests in real time, required a formula based revolving line of credit, to retire maturing convertible debt
and provide additional growth capital to support increase in demand for their technology platform.
"Our goal in executing these convertible debt
transactions was to significantly reduce potential share dilution, while also reducing short term debt and effectively extending the maturity date of a certain portion of our notes by over four years," said Joshua Levine, President and Chief Executive Officer.
Over the past decade or so, several public companies have issued convertible debt
instruments that provide for a conversion rate adjustment (CRA) so that a conversion rate is changed if a distribution is made on corporate stock.