Amarin Corporation plc (AMRN) Sells Bridge Loan
Amarin Corporation plc announced that it had secured financing of $3.0 million in the form of convertible bridge loan notes sold to several institutional investors. The financing consists of a short-term note and warrants, and will allow the company to operate through the end of September 2009. The notes pay interest at a rate of 8%, mature on September 30, 2009, and are convertible at the option of the holder into the company’s American Depositary Shares. The warrants are for five years and are also convertible into American Depositary Shares based on a price to be determined in the future.…