By Sheri Kasprzak
New York, Nov. 20 - Xenomics, Inc. wrapped a private placement of $2.225 million in convertible debentures.
The 6% debentures are due Nov. 14, 2008 and are convertible into common shares at $0.55 each.
The investors, led by Gian Luigi Buitoni, received warrants for 4,046,364 shares, exercisable at $0.70 each for six years.
Buitoni alone received warrants for 3.5 million units of one share and one warrant, initially exercisable at $0.55 each.
New York-based Xenomics is a diagnostic company focused on developing DNA-based tests to detect tumors and infectious diseases.
| Issuer: | Xenomics, Inc.
|
| Issue: | Convertible debentures
|
| Amount: | $2.225 million
|
| Maturity: | Nov. 14, 2008
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Conversion price: | $0.55
|
| Warrants: | For 4,046,364 shares
|
| Warrant expiration: | Six years
|
| Warrant strike price: | $0.70
|
| Investors: | Gian Luigi Buitoni (lead)
|
| Settlement date: | Nov. 14
|
| Stock symbol: | OTCBB: XNOM
|
| Stock price: | $0.63 at close Nov. 14
|
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