Financings in Brief: Inamed
This article was originally published in The Gray Sheet
Inamed: Nets $34.9 mil. in private placement of convertible debt. The placement of 11% secured convertible notes included investments from Dreyfus Corporation, S.C. Fundamental Value Fund, L.P., Oracle Partners, L.P., Fir Tree Partners, and Atticus Capital. Notes are secured by Inamed and "will mature on March 31, 1999 unless they are converted earlier into shares of Inamed common stock at $10 per share," the company says. Proceeds will "accommodate the company's current financial responsibilities under The Revised Settlement Program, to fund an initial $10 mil. payment in connection with contemplated mandatory class resolution of breast implant litigation, and to manage general legal costs," the firm says.
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