Spectral Medical Inc T.EDT

$ 10.8 M & Baxter mention.

[mercedesman]

Aggregate gross proceeds raised pursuant to the Offering were approximately C$10.8 million.

Pursuant to the Note Offering, Baxter International Inc. (NYSE: BAX) (“Baxter”) agreed to purchase certain of the Notes in connection with an amendment to a portion of the initial milestone payment due to the Company under the Distribution Agreement (as defined below). In 2020, Baxter, a leading global medical products company, entered into a distribution agreement (the “Distribution Agreement”) with the Company for PMX (as defined below) and the Endotoxin Activity Assay™ (EAA), an on-market companion diagnostic tool that aids in the risk assessment of ICU patients for progression to severe sepsis.

[mercedesman]

Looks as though the company exercised their option on over-allotment, because the issue was oversubscribed? If so, it sure seems like a healthy raise in this kind of market.  And only 7% on the debentures?  Unheard of in today's interest rate climate.  Seems like the holders are more interested in the underlying equity, than in the interest they will earn, or in any potntial