Bluefish Pharmaceuticals convertible debt issue provides SEK 35 million
6/18/2009 10:20 AM EST
Bluefish Pharmaceuticals has completed the issue of convertibles which will provide the company with gross proceeds of 35 SEK million. The convertibles will be delivered once the transaction has been registered by the Swedish Companies Registration office.
Assuming full conversion of the convertible debt into common stock, the number of new B shares in Bluefish could increase by 4 200 980 and the share capital could increase by SEK 840 196. The intention of the convertible debt issue has been to secure the company's increased need for working capital as the company is launching its product portfolio in additional EU markets.