Medical technology developer sells promissory note due Oct. 8, 2016
By Devika Patel
Knoxville, Tenn., Oct. 16 – Medifirst Solutions Inc. sold a $31,000 convertible promissory note in a private placement on Oct. 12, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced on Oct. 8.
The note is due on Oct. 8, 2016. The conversion price is 58% of the lowest trading price of the stock for the 20 days preceding conversion.
Proceeds will be used for general working capital purposes.
The Freehold, N.J., company develops a line of medical and health-care products and technologies, including a mobile laser unit to treat skin-related concerns and an LED light therapy system to treat pain.
| Issuer: | Medifirst Solutions Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $31,000
|
| Maturity: | Oct. 8, 2016
|
| Conversion price: | 58% of the lowest trading price of the stock for the 20 days preceding conversion
|
| Warrants: | No
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 12
|
| Stock symbol: | OTCBB: MFST
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| Stock price: | $0.01 at close Oct. 7
|
| Market capitalization: | $299,720
|
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