Calypte lowers conversion price on Marr's 8% secured convertible promissory notes

By Devika Patel

Knoxville, Tenn., Dec. 10 - Calypte Biomedical Corp. lowered the conversion price of the 8% secured convertible promissory notes issued to Marr Technologies BV in an April 4, 2005 PIPE to $0.16 from $0.30, effective Dec. 4, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company also said in the 8-K it has amended its 2005 credit facility agreement with Marr so that Marr now has the option to convert the principal amount and interest of the notes issued under the facility into shares at $0.16 per share.

Based in Lake Oswego, Ore., Calypte develops diagnostic tools to detect sexually transmitted diseases like HIV.

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