12% loan is also accompanied by warrants for 4 million common shares
By Devika Patel
Knoxville, Tenn., April 25- Omni Bio Pharmaceutical, Inc. negotiated a $2 million convertible loan with Bohemian Investments, LLC on April 23, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 12% loan matures on April 24, 2015. It may be prepaid and is convertible into common stock at $0.20 per share, which is a 33.33% discount to the April 22 closing share price of $0.30.
Bohemian also received warrants for 4 million shares. Of the warrants, 1 million are each exercisable at $0.25, a 16.67% discount to the April 22 closing share price, through April 15, 2019, and 3 million are exercisable at $0.01, a 96.67% discount to the April 22 price, through April 15, 2015.
In addition, all warrants currently held by BOCO were amended to extend the expiration date to Dec. 31, 2019 and reset the exercise price to $0.25 per share.
The biopharmaceutical company is based in Greenwood Village, Colo.
| Issuer: | Omni Bio Pharmaceutical, Inc.
|
| Issue: | Convertible loan
|
| Amount: | $2 million
|
| Maturity: | April 24, 2015
|
| Coupon: | 12%
|
| Conversion price: | $0.20
|
| Call: | Yes
|
| Warrants: | For 4 million shares
|
| Warrant expiration: | April 15, 2019 (for 1 million shares), April 15, 2015 (for 3 million shares)
|
| Warrant strike price: | $0.25 (for 1 million shares), $0.01 (for 3 million shares)
|
| Investor: | Bohemian Investments, LLC
|
| Settlement dates: | April 23
|
| Stock symbol: | OTCBB: OMBP
|
| Stock price: | $0.35 at close April 22
|
| Market capitalization: | $9.66 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
