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New York, NY -- (SBWIRE) -- 03/13/2013 -- Delcath Systems, Inc. (NASDAQ:DCTH) is a development-stage, specialty pharmaceutical and medical device company, focused on oncology, initially cancers in the liver. Delcath focuses on the development and clinical study of the Delcath chemosaturation system. The Delcath chemosaturation system allows the administration of concentrated regional chemotherapy by isolating the circulatory system of the targeted organ.
Delcath Systems, Inc. (NASDAQ:DCTH) shares climbed 8.67% to $2.13. The company, on Feb. 27, announced that the U.S. Food and Drug Administration's (FDA) Oncologic Drugs Advisory Committee (ODAC) will review the Company's pending New Drug Application (NDA) for a drug/device combination product with the proposed trade name Melblez KitTM (Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System.
Additionally, the company announced that it will host a conference call and webcast on Wednesday, March 13, 2013 at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year 2012 ended December 31, 2012, and provide an update on recent corporate progress.
Is DCTH a Strong Buy After The Recent Gain? Let’s Find out Here
Meadowbrook Insurance Group, Inc. (NYSE:MIG), announced that it has priced and agreed to sell to initial purchasers in a private offering $85 million aggregate principal amount of its Cash Convertible Senior Notes due 2020 . Meadowbrook has also granted the initial purchasers of the notes an option to purchase up to an additional $15 million aggregate principal amount of the notes. The notes are being offered only to qualified institutional buyers (as defined in the Securities Act of 1933, as amended (the "Securities Act")) pursuant to Rule 144A under the Securities Act.
The notes are unsecured and bear interest at a rate of 5.00% per year, payable semiannually on March 15 and September 15of each year, commencing on September 15, 2013. The notes will be convertible at the option of the holders into solely cash in certain circumstances and during certain periods. The notes will not be converted into Meadowbrook common stock or any other securities under any circumstances. The notes will mature on March 15, 2020, unless earlier repurchased or converted into cash in accordance with their terms prior to such date. The conversion rate for the notes initially will be 108.8732 shares of common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $9.18per share of Meadowbrook common stock. The initial conversion price of the notes represents a premium of approximately 37.50% of the $6.68 per share last reported sale price of the Company's common stock on March 12, 2013. The offering of the notes is expected to close on March 18, 2013, subject to customary closing conditions.
Should A Trader Buy Or Sell MIG Now: CHECK HERE
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