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Neurochem announces initial purchaser's exercise of over-allotment option for the purchase of senior convertible notes
Neurochem announces initial purchaser's exercise of over-allotment option for the purchase of senior convertible notes.
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\n\nLAVAL, QC, Nov. 16 /CNW Telbec/ - Neurochem Inc. (NASDAQ: NRMX, TSX: NRM)\nannounced today that it will issue to UBS Securities LLC on or about\nNovember 17, 2006, an additional US$2.085 million aggregate principal amount\nof 6% senior convertible notes with a conversion premium of 20% (which\nrepresents an initial conversion price of approximately US$19.72 per share)\ndue in 2026. UBS Securities LLC was the initial purchaser of a US$40 million\naggregate principal amount of notes in Neurochem's recently completed private\nplacement, and has advised Neurochem that it is exercising in full its\nover-allotment option.\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 (ALZHEMED(TM)), for the treatment of Alzheimer's disease,\nis currently in Phase III clinical trials in both North America and Europe and\ntramiprosate (CEREBRIL(TM)), for the prevention of Hemorrhagic Stroke caused\nby Cerebral Amyloid Angiopathy, has completed a Phase IIa clinical trial.\n\nCertain statements contained in this news release, other than statements\nof fact that are independently verifiable at the date hereof, may constitute\nforward-looking statements. Such statements, based as they are on the current\nexpectations of management, inherently involve numerous risks and\nuncertainties, known and unknown, many of which are beyond Neurochem's\ncontrol. Such risks include but are not limited to: the impact of general\neconomic conditions, general condi...