A Medical Device Daily
Allergan (Irvine, California) reported that it has completed its previously disclosed concurrent private placements of $750 million aggregate principal amount of 1.50% convertible senior notes due 2026 and $800 million aggregate principal amount of 5.75% senior notes due 2016.
The company also reported that it will redeem the entire outstanding principal amount of its zero coupon senior convertible notes due 2022 on May 15.
Allergan develops products in the ophthalmology, neurosciences, medical dermatology, medical aesthetics and other specialty markets that deliver value to its customers, satisfy unmet medical needs and improve patients' lives.
AMDL (Tustin, California), a maker of tests for the early detection of cancer and other serious diseases, said it has conducted the closing of a combined Regulation D/Regulation S private offering of shares and warrants.
The offering generated total gross proceeds of $1.81 million exclusive of placement agent fees and expenses of $235,624.
The offering consisted of the sale of an aggregate of more than 5 million shares of AMDL common stock at $0.362 per share and three year warrants to purchase an additional 5.51 million shares of AMDL common stock, including warrants to purchase 500,689 shares issued to the placement agents, all exercisable at $0.555 per share.
"The proceeds will be used to fund the costs of additional regulatory approvals of our products and for general working capital needs," said Gary Dreher, president of AMDL.