By Devika Patel
Knoxville, Tenn., May 5 - MiMedx Group, Inc. settled a $1.42 million private placement of convertible senior secured promissory notes between April 3 and April 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 3% note matures in three years.
The notes are convertible into 2.84 million common shares at $0.50 per share.
MiMedx is a Destin, Fla., developer of biomaterial-based products for use in the musculoskeletal specialties.
| Issuer: | MiMedx Group, Inc.
|
| Issue: | Convertible senior secured promissory notes
|
| Amount: | $1.42 million
|
| Maturity: | Three years
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Conversion price: | $0.50
|
| Conversion ratio: | Into 2.84 million shares
|
| Warrants: | No
|
| Settlement date: | April 30
|
| Stock symbol: | OTCBB: MDXG
|
| Stock price: | $0.50 at close April 30
|
| Market capitalization: | $26.3 million
|
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