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Clinical Data Buys Back Xmark Warrants, Retires Debt

NEW YORK, Jan. 17 (GenomeWeb News) - Clinical Data has bought back a total of 130,000 warrants from Xmark Opportunity Fund for total cash consideration of $130,000, the company said today. Each repurchased warrant carried the right to buy Clinical Data common stock at a price of $28.50 per share.

 

The repurchase opportunity was the result of the diagnostic company's retiring a $4.5 million dollar note previously issued to Xmark, said Clinical Data chief financial officer Mark Shooman in a statement.

 

The warrants and the debt were assumed by Clinical datae in its October 2005, $56 million all-stock purchase of Genaissance.

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