NanoCarrier to raise $47.7 million

NanoCarrier Co. Ltd. (Tokyo:4571) is planning to raise Y3.7 billion ($47.7 million) through the sale of convertible bonds and stock options to Whiz Partners and CSK Venture Capital. The offerings are contingent on shareholder approval at a meeting on March 19. The bonds will convert at a price equal to a 13% premium over the six-month volume weighted average price (VWAP) of the stock, and the options will be exercisable at a price equal to a 21.1% premium over the six-month VWAP. ...