Oct. 31 at 8:09 AM
$OBIO Anybody spot the
$12. Obviously OBIO didn't need the money and both parties consider the stock undervalued.
"Terumo and Orchestra BioMed have also entered into a securities purchase agreement, pursuant to which Terumo has agreed to invest an additional
$20 million in Orchestra BioMed through a new series of non-voting preferred stock, which is convertible into common stock in the future, subject to certain conditions, at a minimum of
$12 per share (the “Securities Purchase Agreement”). Terumo previously made a
$30 million non-refundable payment and
$5 million common stock investment in Orchestra BioMed upon execution of the Prior Agreement."
