Home » Emisphere Technologies Completes Note Payment to Elan
Emisphere Technologies Completes Note Payment to Elan
Emisphere Technologies, Inc. today announced it has retired its remaining debt owed to an affiliate of Elan. The $13 million cash payment, plus issuance of a warrant to purchase 600,000 shares of the company's common stock at $3.88 per share, finalizes the transaction and eliminates the debt at a significant discount. The company will recognize a significant non-cash gain as a result of the discount.
BioSpace (http://www.biospace.com/news_story.cfm?StoryID=19577320&full=1)
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