By Sheri Kasprzak
Atlanta, Dec. 22 - Dobi Medical International Inc. said Wednesday it completed the final closing of a private placement announced in December 2003 for $3 million.
The company sold 6 million shares at $0.50 each.
Investors in the offering also received warrants for 1.5 million shares at $1.54 each.
In separate news, the company announced it has lowered the conversion price of its series A preferred stock to $1.79 per share from $2 per share.
Based in Mahwah, N.J., Dobi is a medical imaging company focused on improving the diagnosis of cancer.
| Issuer: | Dobi Medical International Inc.
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| Issue: | Stock
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| Amount: | $3 million
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| Shares: | 6 million
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| Price: | $0.50
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| Warrants: | For 1.5 million shares
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| Warrant strike price: | $1.54
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| Settlement date: | Dec. 22
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| Stock price: | $0.63 at close Dec. 21
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