Reuters
Women First noteholders to waive defaults
Tuesday April 15, 6:09 pm ET
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SAN FRANCISCO, April 15 (Reuters) - Women First HealthCare Inc, which makes pharmaceuticals for women over 40, Tuesday said it had reached an agreement with the holders of its $28 million in senior secured notes to waive defaults and to restructure the debt.
The San Diego-based company said it will restructure both its senior secured notes and its convertible redeemable preferred stock issued to finance its acquisition of Vaniqa cream.
As a condition of the restructuring, the company will be required to have at least $2.5 million of additional capital, and its Chief Executive Edward Calesa has committed to provide $1 million of that amount. <--------!!!!!!!!!!