Published on 12/14/2005 in the Prospect News PIPE Daily.
New Issue: Bodisen Biotech raises $5 million from sale of note with warrants
By Sheri Kasprzak
New York, Dec. 14 - Bodisen Biotech, Inc. said it settled a private placement of a promissory note for $5 million.
Amaranth Partners LLC bought the 9% note, which matures on March 8, 2006.
The investor received warrants for 133,333 shares, exercisable at $7.50 each. The warrants will be issued on March 1.
Based in Yang Ling, China, Bodisen develops pesticides and fertilizer.
Issuer: | Bodisen Biotech, Inc.
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Issue: | Promissory note
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Amount: | $5 million
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Maturity: | March 8, 2006
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Coupon: | 9%
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Price: | Par
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Yield: | 9%
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Warrants: | For 133,333 shares
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Warrant strike price: | $7.50
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Investor: | Amaranth Partners LLC
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Settlement date: | Dec. 8
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Stock price: | $13.00 at close Dec. 8
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