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BRIEF-Strata Skin Sciences to eliminate $40.7 mln outstanding senior secured convertible debentures
June 7, 2017 / 12:09 PM / in 2 months

BRIEF-Strata Skin Sciences to eliminate $40.7 mln outstanding senior secured convertible debentures

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June 7 (Reuters) - Strata Skin Sciences Inc

* Strata Skin Sciences announces agreement to eliminate $40.7 million of outstanding senior secured convertible debentures

* Strata Skin Sciences-holders of 2.25% senior series A secured convertible debentures, 4% senior secured convertible debentures due July 30, 2021 to exchange it

* Strata Skin Sciences Inc - Holders of specific debentures to exchange them into 40,617 shares of newly created series C convertible preferred stock

* Strata Skin Sciences Inc - Exchange to also eliminate Strata's obligation to pay approximately $4 million of cash interest payments over next four years

* Strata Skin Sciences Inc - Upon completion of exchange, aggregate principal amount of Strata's debt will be reduced to approximately $12 million Source text for Eikon: Further company coverage:

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