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Third Wave Closes $14.9M Convertible Notes Placement

NEW YORK (GenomeWeb News) — Third Wave Technologies has pocketed $14.9 million after closing the sale of its previously announced zero-coupon convertible notes, the company said today.
 
Third Wave said it intends to use the cash infusion for general corporate expenses.
 
Third Wave said it would place the notes with an unnamed institutional investor on Dec. 19.
 
The 6-percent notes, which are convertible into roughly 2.5 million shares, will be due in 2011 and are priced at an initial rate of $6 apiece.
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