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Home » Bacterin bounds from OTC to NYSE Amex | Funding roundup

Bacterin bounds from OTC to NYSE Amex | Funding roundup

March 6, 2011 By MassDevice staff

Funding Roundup

Here’s a roundup of the latest dealflow and investment news:

  • Bacterin bounds from OTC to NYSE Amex
    Belgrade, Mont.-based Bacterin International Holdings, Inc. (OTC:BIHI), a creator and developer of bone graft material and anti-infective coatings for medical applications, announced that its common stock has been approved for listing on the NYSE Amex and has chosen Knight Capital Group as its designated market maker. Shares of Bacterin’s common stock will commence trading on the NYSE Amex on March 7 under the new ticker symbol "BONE." "This is truly an eventful period in our company’s history as we proudly commence the trading of our stock on the NYSE Amex. We believe our shares will experience higher liquidity as a NYSE Amex listed company, which will raise our profile in the investment community," founder and CEO Guy Cook said in prepared remarks.
    Read more
  • Lantheus commences consent solicitation
    Billerica, Mass.-based Lantheus Medical Imaging Inc. today announced it commenced a consent solicitation with respect to a proposed amendment to the indenture governing the company’s outstanding 9.750% Senior Notes Due 2017 (CUSIP No. 516545 AC4). The proposed amendment would modify the restricted payments covenant to provide for a $150 million restricted payments basket. The proposed amendments would enable Lantheus to undertake an offering of additional notes under the Indenture and use the proceeds to make a distribution to Lantheus’ immediate parent company and indirectly to Lantheus’ ultimate parent company, Lantheus MI Holdings Inc. to allow Holdings to, among other things, repurchase Holdings’ outstanding preferred stock. The record date to determine holders of the notes entitled to consent is March 2. The solicitation will expire on March 14/
    Read more
  • ConvaTec to refinance debt
    Skillman, N.J.-based ConvaTec Healthcare announced that, recognizing favorable conditions in the credit markets, it is exploring the option to refinance all or a portion of its senior secured term loans originally entered into on Dec. 22, 2010. While the year-end audit process is ongoing, ConvaTec presently expects adjusted EBITDA for the year ended Dec. 31, 2010 to be within a range of approximately $425 million to $435 million, although this view is based on a number of assumptions and estimates. ConvaTec management cautions that the foregoing information has not been audited or reviewed by the company’s independent auditors and should not be regarded as a representation or forecast by ConvaTec or any other person affiliated with the company regarding the results that will be reported for the year ended Dec. 31.
    Read more
  • Nile lands delisting extension
    NASDAQ granted San Mateo, Calif.-based Nile Therapeutics Inc. (NSDQ:NLTX) an extension remain listed on the exchange. The company’s continued listing on NASDAQ is subject to the company complying with the exchange’s minimum $1.00 bid price requirement by May 31. The company may evidence compliance with the bid price requirement by acheiving a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days by May 31 deadline. As previously disclosed, on Nov. 30, 2010, the company was notified by NASDAQ that its securities were subject to delisting based upon the company’s failure to satisfy the minimum bid price requirement. Nile Therapeutics last week announced a deal in which Medtronic Inc. (NYSE:MDT) will fund research for its peptide treatment for heart failure. Terms of the deal were not announced, but Medtronic has made a practice of placing side bets on emerging technologies. NLTX shares closed on Friday at 63 cents a piece.
    Read more
  • NeuroMetrix inks debt extension
    NeuroMetrix Inc. (NSDQ:NURO) entered into a one year extension of its "Loan and Security Agreement" with Comerica Bank. The initial the credit facility was signed on March 5, 2010. It permits the Waltham, Mass.-based company to borrow up to $7.5 million on a revolving basis. Amounts borrowed under the credit facility will bear interest equal to the prime rate plus 0.5 percent. Any borrowings under the credit facility will be secured by the company’s cash, accounts, inventory, equipment, chattel paper, documents, general intangibles (excluding intellectual property), instruments, investment property and letter of credit rights. The company intends to utilize the credit facility for ongoing operations and working capital needs.
    Read more

Filed Under: News Well, Orthopedics Tagged With: Bacterin International Holdings Inc., ConvaTec, Lantheus Medical Imaging, Neurometrix, Nile Therapeutics, Stock Exchange De-listing

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