GAITHERSBURG, Md., June 26, 2014 (GLOBE NEWSWIRE) -- Cytomedix, Inc. (OTCQX:CMXI), a leading developer of biologically active regenerative therapies, today announced receipt, following satisfaction of closing conditions, of the second tranche of the gross proceeds in the amount of $26 million (for a total $35 million) in convertible debt financing from certain investment funds managed by Deerfield Management Company, L.P. Under the terms of the Facility Agreement dated as of March 31, 2014, Deerfield agreed to provide to the Company up to $35 million in financing through a senior secured convertible debt facility. The commitment consisted of two separate tranches, of which the first $9 million was received upon initial closing of the transaction on March 31, 2014. The second tranche in the gross amount of $26 million was completed as anticipated. As previously disclosed, the notes have a fixed conversion price of $0.52 per share. Following the retirement of debt and payment of certain expenses associated with the closing of the second tranche, the net proceeds to the Company were approximately $22.1 million.
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