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MWG Biotech Seeks to Raise 10M Euros with Convertible Bonds

NEW YORK, Nov. 19 (GenomeWeb News) - MWG Biotech will issue convertible bonds to raise some €10 million, the Ebersberg, Germany-based company said today.


The bonds will pay 6 percent interest per year until Dec. 14, 2007. The bonds are convertible on a 1:1 ratio with MWG Biotech shares.


Existing shareholders will be offered the opportunity to purchase one bond for each 3.4 existing shares.


The bonds will not be publicly offered and those not underwritten by existing shareholders will be placed with institutional investors, the company said.

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