News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Oxygen Biotherapeutics, Inc. (OXBO) Strengthens Balance Sheet Through $4.6 Million Debt Conversion


9/18/2013 10:05:29 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

MORRISVILLE, N.C.--(BUSINESS WIRE)--Oxygen Biotherapeutics, Inc., (NASDAQ: OXBT) a developer of oxygen-carrying therapeutics, today announced the Company has converted $4.6 million in outstanding principal amount of a convertible promissory note. The note, which was scheduled to mature on July 1, 2014, carried an interest rate of 15% per annum. This move reduces the Company’s debt from $4.9 million to $300,000. The Company estimates that this will improve its net shareholder equity by approximately $3.5 million.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES