By Devika Patel
Knoxville, Tenn., Dec. 31 - Amphion Innovations plc said it has settled a £1.86 million private placement of convertible promissory notes.
The 7% notes, sold at 100p apiece, mature on Dec. 31, 2013 and are convertible into ordinary shares at 18 p per share.
In addition, for each note issued, the company also issued 1.11 warrants to each investor, a ratio of one warrant for every five shares issuable upon conversion. Each warrant will be exercisable at 20p,
Based in London, Amphion forms and develops companies in the life sciences and technology sector working in partnerships with corporations, governments, universities and entrepreneurs.
| Issuer: | Amphion Innovations plc
|
| Issue: | Convertible promissory notes
|
| Amount: | £1,857,900
|
| Maturity: | Dec. 31, 2013
|
| Coupon: | 7%
|
| Price: | Par of 100p
|
| Yield: | 7%
|
| Conversion price: | 18p
|
| Warrants: | One for every five shares issuable upon conversion
|
| Warrant strike price: | 20p
|
| Settlement date: | Dec. 31
|
| Stock symbol: | London: AMP
|
| Stock price: | 11.15p at close Dec. 31
|
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