Look at the big picture here:
Dominion Capital just filed a 13g (5% holdings and above) and did the bridge loan outlined below (very recently). Also, Management just bought a new Phase II Parkinsons drug (shown below as well).
LymPro news on deck (wait and see approach to hear what BD wants to do with this product). Maybe significant funding if all works out well.
Orphan Drug data (MANF) due out any day (per Geralds message at the Marcum Conference in late June). I think the fundamentals here are very strong...... additional funding is the key (hopefully, it will be announced in the very near future with Dominion) or another partner.
Sound like a company going out of business anytime soon?
Sec filing:
On June 7, 2013 Amarantus Bioscience Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Bridge Financing”) with an institutional investor pursuant to which the investor purchased an aggregate principal amount $250,000 12% debentures due June 7, 2014 (the “Debentures”), with a payment schedule of $125,000 upon execution and $125,000 within 30 days. The Debentures are convertible into common stock at a conversion price of $0.032 per share, subject to adjustment. The Company may repurchase this note at any time for 125% of the purchase price. Aegis Capital served as placement agent on the transaction and received 10% in placement agent fees.
In connection with the offer and sale of the Debentures, the Company relied on the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 8.01 Other Events.
On May 22, 2013, the Company entered into a letter of intent to in-license a Phase 2 drug candidate in L-Dopa-Induced Dyskinesia Parkinson’s Disease from an undisclosed third party. Once licensed the Company intends to initiate a Phase 2b clinical trial within 12 months.
