ARTICLE | Financial News

Isolagen raises $75 million

October 29, 2004 7:00 AM UTC

Cellular therapy company ILE raised $75 million in a private placement of convertible subordinated notes. The notes bear 3.5% interest, mature in 2024 and convert into ILE stock at $9.16, which is a 38% premium to the company's Thursday close of $6.66. The deal has a $15 million overallotment. The autologous cellular therapy company will use $26 million of the proceeds to repurchase up to 4 million ILE shares concurrent with the closing of the note deal. ...