Echo extends maturity of original issue discount notes sold to Imperium

By Devika Patel

Knoxville, Tenn., April 24 - Echo Therapeutics, Inc. once again has extended the maturity date of an original issue discount senior secured note that was sold to Imperium Master Fund, Ltd. in a March 2008 private placement, according to an 8-K filed Friday with the Securities and Exchange Commission.

The note came due on March 24 and was extended on that date to April 24.

The company also extended the maturity date of a one-year original issue discount senior secured note that was sold to Imperium on April 24, 2008.

The new maturity date of both notes is May 31.

The purpose of the extension is to provide the company and Imperium sufficient time to amend their loan agreement, the March 2008 note and all other senior secured notes issued by the company to allow for a one-year extension of the notes' maturity dates.

Franklin, Mass.-based Echo is a dual platform-enabled, specialty therapeutics and diagnostics company.

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