By Devika Patel
Knoxville, Tenn., March 8 - Helix BioMedix, Inc. settled a $2.9 million private placement of 8% convertible promissory notes on March 5, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes mature on July 1, 2013 and are initially convertible into common shares at $0.80.
The investors also received warrants for 725,000 shares, each of which is exercisable at $0.80.
RBFSC, Inc. invested $2.2 million, Barry L. Seidman invested $150,000 and Lawrence Blake Jones invested $300,000.
Based in Bothell, Wash., Helix develops bioactive peptides used in skin care products.
| Issuer: | Helix BioMedix, Inc.
|
| Issue: | Convertible promissory notes
|
| Amount: | $2.9 million
|
| Maturity: | July 1, 2013
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | $0.80
|
| Warrants: | For 725,000 shares
|
| Warrant strike price: | $0.80
|
| Investors: | RBFSC, Inc. (for $2.2 million), Barry L. Seidman (for $150,000) and Lawrence Blake Jones (for $300,000)
|
| Settlement date: | March 5
|
| Stock symbol: | OTCBB: HXBM
|
| Stock price: | $0.19 at close March 5
|
| Market capitalization: | $4.87 million
|
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