By Sheri Kasprzak
New York, Jan. 10 - Intraop Medical Corp. sealed a private placement of 8% debentures for $1.2 million.
The debentures were purchased by Tomovation GmbH and other investors.
The debentures are due May 9, 2007 and include warrants for 1,285,708 shares.
The warrants are exercisable at $0.28 each for five years.
Connected to the offering, Intraop reduced to $0.28 from $0.40 the conversion price on its 7% convertible debentures issued in 2005 and held by the purchasers of the 8% debentures.
Based in Sunnyvale, Calif., Intraop develops a mobile electron-beam cancer treatment system.
Issuer: | Intraop Medical Corp.
|
Issue: | Debentures
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Amount: | $1.2 million
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Maturity: | May 9, 2007
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Coupon: | 8%
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Price: | Par
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Yield: | 8%
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Warrants: | For 1,285,708 shares
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Warrant expiration: | Five years
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Warrant strike price: | $0.28
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Investor: | Tomovation GmbH (lead)
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Settlement date: | Jan. 10
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Stock symbol: | OTCBB: IOPM
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Stock price: | $0.29 at close Jan. 10
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