MORRISVILLE, N.C.--(BUSINESS WIRE)--BioDelivery Sciences International, Inc. (NASDAQ:BDSI) announced that Hopkins Capital Group II, LLC (HCG), a significant stockholder of BDSI which is affiliated with Dr. Frank O’Donnell, BDSI’s Chairman, has converted all of the Series B Convertible Preferred Stock of BDSI held by HCG into BDSI common stock at a value of $4.25 per share. Accrued dividends under the Series B Preferred were converted at the closing market price on January 10, 2007. As a result of the conversion, HCG will receive 400,402 shares of unregistered common stock of BDSI.
