HUNTINGDON VALLEY, Pa.--(BUSINESS WIRE)--Immunicon Corporation (NASDAQ-GM:IMMC) announced today that it has entered into a definitive agreement for the sale and issuance of $30 million in aggregate principal amount of Immunicon’s unsecured subordinated convertible promissory notes which are convertible initially into an aggregate of up to 7,334,964 shares of Immunicon’s common stock, and accompanying warrants to purchase 1,466,994 shares of Immunicon’s common stock. The closing of the offering of the notes and warrants is expected to occur on or about December 5, 2006, subject to satisfaction or waiver of customary closing conditions. Deutsche Bank Securities Inc. acted as exclusive placement agent for the offering.
