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7 months ago
BRIEF-EnteroMedics announces 1-for-70 reverse stock split
December 23, 2016 / 12:10 PM / 7 months ago

BRIEF-EnteroMedics announces 1-for-70 reverse stock split

1 Min Read

Dec 23 (Reuters) - EnteroMedics Inc -

* Declared a 1-for-70 reverse stock split of co's common stock, will be effective for trading purposes upon commencement of trading on Dec 28

* Used net proceeds from the offering to continue its commercialization efforts for vbloc neurometabolic therapy

* Announced that all $18.75 million of its senior amortizing convertible notes will be converted as of tuesday, December 27, 2016

* Under terms of securities purchase deal, co issued $1.5 million of notes at initial closing, balance issued in 2 tranches of $11.0 million, $6.25 million

* Enteromedics announces 1-for-70 reverse stock split Source text for Eikon: Further company coverage:

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