Form 8-K for BOHAI PHARMACEUTICALS GROUP, INC.
12-Jul-2012
Item 8.01 Other Events
Bohai Pharmaceuticals Group, Inc. (the "Company") is hereby voluntarily reporting that it has repaid $731,000 (the "Repayment") due under the Company's two-year 8% convertible notes (the "Notes") as required under that certain Second Amendment to the Notes, dated May 15, 2012 (the "Second Amendment"). By making the Repayment, the term of the Notes has been formally extended to October 5, 2012 as provided for in the Second Amendment.
The Company is also voluntarily reporting that the Company has also paid $313,895 interest payment for the period of April 5, 2012 to July 5, 2012 on the Notes.
The Notes were originally issued in a financing completed by the Company in January 2010 for which Euro Pacific Capital, Inc. ("Euro Pacific") acted as placement agent and also acts as representative of the Note holders. The Company and Euro Pacific entered into the Second Amendment to extend the maturity date thereof from April 5, 2012 to October 5, 2012 (such extra six month period, the "Second Extended Period"); and (ii) maintain the interest rate on the Notes at an annual rate of 12% (or 6% for the Second Extended Period). As of the date of the Current Report on Form 8-K, an aggregate of US$9.405 million in principals remains due under the Notes.
