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News Breaks
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November 11, 2009
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| 08:31 EDT |  | NEXM |
| theflyonthewall.com: | NexMed receives cash infusion of $750,000 | | NexMed announced that it raised $750,000 in gross proceeds from the issuance of new convertible notes due December 31, 2011, which are secured by a mortgage on NexMed’s facility in East Windsor, NJ. The Notes were purchased by two investors, including The Tail Wind Fund. The Notes are convertible into shares of NexMed common stock at $2 per share with a coupon rate of 7% per annum. The shares underlying the Notes will not be registered with the Securities and Exchange Commission. :theflyonthewall.com |
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