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MusclePharm issued a total of 1,500,000 shares of its Series D Convertible Preferred Stock in a registered direct offering at a price of $8.00 per share. Each share of Series D Convertible Preferred Stock is convertible into two shares of common stock, subject to adjustment.
On April 8, 1997, after buying the remaining 43.5% of Roussel-Uclaf stock in early 1997, Hoechst AG ($30 billion annual revenue) announced the end of its manufacture and sale of Mifegyne ($3.44 million annual revenue) and the transfer of all rights for medical uses of mifepristone outside of the U.S. to Exelgyn S.A., a new single-product company immune to antiabortion boycotts, whose CEO was former Roussel-Uclaf CEO Ãdouard Sakiz.