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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:43 EDTFLMLFlamel Technologies secures $15M in financing
Deerfield Management announced that it had closed a transaction with Flamel Technologies and two of Flamel's subsidiaries to provide $15M. The objective of the financing is to enable Flamel to continue development programs and regulatory filings related to its internal pipeline of products. Deerfield provided the $15M in return for notes bearing 12.5% interest that amortize over a period from 18 months to 4 years. Deerfield also received a royalty of 1.75% of net sales of certain products being developed by Flamel's U.S. subsidiary, Eclat Pharmaceuticals, and transaction fee. The structure was responsive to Flamel's cash flow requirements and interest in avoiding equity dilution.
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July 22, 2015
08:31 EDTFLMLFlamel to begin U.S. public company reporting status in FY16
Flamel announced that as of June 30, it has determined that it no longer satisfies the definition of a "foreign private issuer" under the rules and regulations of the SEC. The company made the determination based on the fact that the proportion of its voting securities currently held by U.S residents is approximately 80% or greater and a majority of its executive officers are U.S. citizens or residents. As a result, beginning on January 1, 2016, the company will be filing Annual Reports on Form 10-K, commencing with the annual report to be filed for the year ended December 31, 2015, Current Reports on Form 8-K, Quarterly Reports on Form 10-Q as well as proxy statements with respect to meetings of shareholders, with the SEC as if it were a fully domestic U.S. company.

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