By Sheri Kasprzak
Atlanta, Feb. 23 - Fischer Imaging Corp. said it closed a private placement for $10 million.
The company entered into a loan agreement with ComVest Investment Partners. The loan bears interest at 8.5% annually and matures in November 2008.
The company received an advance for $5 million and used the proceeds to retire its outstanding senior debt. The remainder was used for working capital. The remaining $5 million may be borrowed from time to time through Nov. 15, 2005.
ComVest also received warrants for up to 2 million shares at $4.25 each for five years.
Based in Denver, Fischer Imaging designs, manufactures and markets medical imaging systems for screenings and disease diagnoses.
| Issuer: | Fischer Imaging Corp.
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| Issue: | Loan
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| Amount: | $10 million
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| Maturity: | November 2008
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| Coupon: | 8.5%
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| Price: | Par
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| Yield: | 8.5%
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| Warrants: | For up to 2 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $4.25
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| Investors: | ComVest Investment Partners
|
| Settlement date: | Feb. 23
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| Stock price: | $4.25 at close Feb. 23
|
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