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Neurochem Announces Closing of Private Placement of US$40 Million Aggregate Principal Amount of 6% Senior Convertible Notes with a Conversion Premium of 20%
Neurochem Announces Closing of Private Placement of US$40 Million Aggregate Principal Amount of 6% Senior Convertible Notes with a Conversion Premium of 20%.
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\n\nLAVAL, QC, Nov. 9 /CNW Telbec/ - Neurochem Inc. (NASDAQ: NRMX, TSX: NRM)\nannounced today the closing of its previously announced private placement with\nUBS Securities LLC as initial purchaser, of US$40 million aggregate principal\namount of 6% senior convertible notes due in 2026, with a conversion premium\nof 20%. Neurochem Inc. has granted the initial purchaser a 30-day option to\npurchase up to an additional US$2.085 million aggregate principal amount of\nthe notes. Neurochem will pay interest on the notes until maturity on\nNovember 15, 2026, subject to earlier repurchase, redemption or conversion.\nNeurochem has been advised that the FMRC Family Trust (of which\nDr. Francesco Bellini, the Chairman, President and CEO of Neurochem, is a\nbeneficiary) and Power Technology Investment Corporation (a subsidiary of\nPower Corporation of Canada), the shareholders of Picchio Pharma Inc., the\nindirect principal shareholder of Neurochem, and certain officers and\ndirectors of Neurochem and/or such entities have purchased approximately\nUS $17.585 million aggregate principal amount of the notes.\nNeurochem will use the net proceeds from the private placement for\ngeneral corporate purposes, which may include, but are not limited to,\nadvancing its current clinical development programs or initiating new ones,\nresearch for new or existing products and capital expenditures.\nThis announcement is neither an offer to sell nor a solicitation of an\noffer to buy any of these securities and shall not constitute an offer,\nsolicitation or sale in any jurisdiction in which such offer, solicitation or\nsale is unlawful.\nThe notes and common shares issuable upon conversion of the notes have\nnot been registered under the Securities Act of 1933, as amended, or any state\nsecurities laws and may not be offered or sold in the United States absent\nregistration or an applicable exemption from the registration requirements.\n\nAbout Neurochem\n\nNeurochem Inc. is focused on the development and commercialization of\ninnovative therapeutics to address critical unmet medical needs. Eprodisate\n(KIACTA(TM); formerly FIBRILLEX(TM)) is currently being developed for the\ntreatment of AA amyloidosis, and is under regulatory review for marketing\napproval by the U.S. Food and Drug Administration and European Medicines\nAgency. Tramiprosate (ALZHE...