By Devika Patel
Knoxville, Tenn., Sept. 24 - OPKO Health, Inc. gave further details about a $30 million private placement of 8% series D cumulative convertible preferred stock in an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced Tuesday.
The company will sell 1,209,677 preferreds at $24.80 apiece. They are convertible into shares at $2.48 per share.
Investors also will receive warrants for 3,024,196 common shares, which are exercisable at $2.48.
Settlement is expected Friday.
Based in Miami, OPKO Health is a health-care company.
| Issuer: | OPKO Health, Inc.
|
| Issue: | Series D cumulative convertible preferred stock
|
| Amount: | $30 million
|
| Shares: | 1,209,677
|
| Price: | $24.80
|
| Dividends: | 8%
|
| Conversion price: | $2.48
|
| Warrants: | For 3,024,196 shares
|
| Warrant strike price: | $2.48
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 25
|
| Stock symbol: | NYSE Amex: OPK
|
| Stock price: | $2.66 at close Sept. 21
|
| Market capitalization: | $644 million
|
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