By Devika Patel
Knoxville, Tenn., Sept. 30 - Unigene Laboratories Inc. said it will conduct a $20 million private placement of its three-year non-convertible, senior secured term notes, which will be accompanied by up to 1.5 million common shares.
The company will draw down $15 million at closing and have an option for an additional $5 million within two years.
The sole investor is an entity managed by Victory Park Capital Advisors, LLC.
Fairfield, N.J.-based Unigene is a biopharmaceutical company focusing on the oral and nasal delivery of large-market peptide drugs.
| Issuer: | Unigene Laboratories Inc.
|
| Issue: | Non-convertible senior secured term notes and 1.5 million common shares
|
| Amount: | $20 million
|
| Maturity: | Three years
|
| Price: | Par
|
| Warrants: | No
|
| Pricing date: | Sept. 30
|
| Stock symbol: | OTCBB: UGNE
|
| Stock price: | $1.09 at close Sept. 30
|
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