Opexa Therapeutics Announces Conversion of all Convertible Secured Promissory Notes Into Common Stock
Published: Sep 25, 2013
THE WOODLANDS, Texas--(BUSINESS WIRE)--Opexa Therapeutics, Inc. (NASDAQ:OPXA), a biotechnology company developing Tcelna®, a patient-specific T-cell immunotherapy for the treatment of multiple sclerosis (MS), today announced the conversion of the Company’s outstanding 12% convertible secured promissory notes into shares of common stock. Notes in the aggregate principal amount of $3.185 million plus accrued interest were converted into an aggregate of 1,714,697 shares of Opexa common stock on September 24, 2013 at a conversion price of $1.91, which represented the most recent closing market price of Opexa’s common stock at the time of conversion. Opexa intends to file a Form S-3 registration statement with the Securities and Exchange Commission to register the common stock.
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