CL1 Jun 2016 11:53
On 1 April 2015, Amphion Innovations plc converted US $6,000,000 of notes and accrued interest into shares of Motif BioSciences Inc. Convertible promissory notes were issued for Amphion Innovations plc's remaining balance of $1,471,700 and Amphion Innovations US Inc.'s balance of US $2,079,086 that include unpaid accrued interest and advisory and consultancy fees. The new notes which accrue interest at the rate of 7% per annum, mature on 31 December 2016 and can be converted into ordinary shares of Motif Bio plc at the rate of US $0.1758 per share.
Roughly 20m shares
From MTFB interims