By Devika Patel
Knoxville, Tenn., March 15 - Orexo AB said it raised SEK 111 million from a private placement of 8% convertible bonds due March 31, 2015. Novo A/S is the investor.
The bonds are convertible into stock at SEK 47.50 per share, which equals a conversion premium of approximately 25%.
Proceeds will strengthen Orexo's financial and strategic position and provide a platform for continued growth.
Orexo is an Uppsala, Sweden-based pharmaceutical company.
| Issuer: | Orexo AB
|
| Issue: | Convertible bonds
|
| Amount: | SEK 111 million
|
| Maturity: | March 31, 2015
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | SEK 47.50
|
| Conversion premium: | Approximately 25%
|
| Warrants: | No
|
| Investor: | Novo A/S
|
| Settlement date: | March 15
|
| Stock symbol: | Stockholm: ORS
|
| Stock price: | SEK 41.00 at close March 15
|
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