Company may now sell shares in up to $900,000 tranches to YA Global
By Devika Patel
Knoxville, Tenn., Aug. 15 - D. Medical Industries Ltd. revised the terms of a $10 million two-year standby equity distribution agreement with YA Global Investments, LP on Aug. 15, according to a 6-K filed Monday with the Securities and Exchange Commission. The deal was announced in April.
The company may now sell up to $900,000 of common shares in any 10-day period at a 3% discount to the lowest market price during the 10-day period. The tranches were previously limited to up to $500,000. The parties may increase the maximum tranche amount to $1.5 million by mutual consent.
D. Medical is a Tirat Carmel, Israel-based medical device company.
| Issuer: | D. Medical Industries Ltd.
|
| Issue: | Equity distribution agreement
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| Amount: | $10 million
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| Tenor: | Two years
|
| Price: | 3% discount
|
| Warrants: | No
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| Investor: | YA Global Investments, LP
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| Announcement date: | April 18
|
| Revised: | Aug. 15
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| Stock symbol: | Nasdaq: DMED
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| Stock price: | $3.52 at close April 15
|
| Market capitalization: | $18.68 million
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