By Sheri Kasprzak
New York, Aug. 30 - Holmes Biopharma, Inc. concluded a $1 million private placement of convertible debentures.
A private U.S.-based foundation bought the 15-month debentures, which are convertible at $1.00 each.
The coupon of the debentures could not be determined Wednesday.
The proceeds will be used for the company's new clinic in Omaha, Neb. The remainder will be used for working capital.
Based in Scottsdale, Ariz., Holmes operates research facilities used by biotechnology, pharmaceutical and medical device companies.
| Issuer: | Holmes Biopharma, Inc.
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| Issue: | Convertible debentures
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| Amount: | $1 million
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| Maturity: | 15 months
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| Conversion price: | $1.00
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| Warrants: | No
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| Settlement date: | Aug. 30
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| Stock symbol: | OTCBB: HLMB
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| Stock price: | $1.53 at close Aug. 29
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