NEWTON, Mass.--(BUSINESS WIRE)--Pro-Pharmaceuticals, Inc. (Amex: PRW), a developer of novel carbohydrate compounds, today announced it has entered into definitive agreements with six of the seven investors holding the Company's 7% Convertible Debentures to exchange their Debentures for shares of the Company's common stock. Under the terms of the agreements, investors agree to exchange approximately $3.9 million of the $4.4 million in outstanding principal and interest, and any other amounts due under its Debenture, for shares of the Company’s common stock priced at $0.75 per share, which will result in the issuance of approximately 5.2 million shares.
