Financings in Brief: Immunomedics
This article was originally published in The Gray Sheet
Immunomedics: Completes $10 mil. private placement of 200,000 shares of non-dividend-paying convertible preferred stock "to several foreign investors," the firm states. The shares are convertible, at the discretion of the investors, into common stock during a "pre-determined period subject to extension." "The conversion price will be based on pre-determined discounts of up to 9-3/4% from the average market price per share over a 30-day trading period surrounding the dates conversion notices are received," Immunomedics says...
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