NexMed Inc. (NEXM) said 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, New Jersey. The Notes were purchased by 2 investors, including The Tail Wind Fund Ltd., a long term investor in NexMed.
The company added that the notes are convertible into common shares of NexMed at $2 per share with a coupon rate of 7% per annum and the shares underlying the notes will not be registered with the Securities and Exchange Commission.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.