Deal with Grupo Ferrer Internacional includes 125,000 common shares
By Devika Patel
Knoxville, Tenn., Sept. 28 – Alexza Pharmaceuticals, Inc. arranged a $5 million private placement of promissory notes with Grupo Ferrer Internacional, SA on Sept. 28, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal is expected to settle in two tranches of $3 million and $2 million.
The 6% note is payable on demand after May 31, 2016 and may be prepaid. Ferrer also will receive 125,000 common shares with the initial tranche as consideration for the loan.
Settlement of the first tranche was expected Monday. Settlement of the second tranche is possible after Jan. 1.
Alexza is a Mountain View, Calif., pharmaceutical company.
| Issuer: | Alexza Pharmaceuticals, Inc.
|
| Issue: | Promissory note, 125,000 common shares
|
| Amount: | $5 million
|
| Maturity: | May 31, 2016
|
| Coupon: | 6%
|
| Call: | Yes
|
| Warrants: | No
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| Investor: | Grupo Ferrer Internacional, SA
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| Settlement dates: | Sept. 28 (for $3 million), after Jan. 1, 2016
|
| Stock symbol: | OTCBB: ALXA
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| Stock price: | $1.33 at close Sept. 25
|
| Market capitalization: | $24.5 million
|
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