Pacira raises $15M in note deal ahead of IPO

Pacira Pharmaceuticals Inc. (Parsippany, N.J.) raised $15 million through the sale of 5% convertible notes in a private placement to MPM Capital; HBM BioVentures; OrbiMed Advisors; and Sanderling. The notes will convert at a price equal to the price per share of stock sold in Pacira's planned IPO. The investors also received warrants to purchase a total of 1.8 million shares at $1.25 per share. ...