By Laura Lutz
Des Moines, Sept. 20 - iCad, Inc. completed private placements of convertible loans for a total of $1 million on Sept. 19, according to an 8-K filing with the Securities and Exchange Commission.
The company issued 7.25% convertible promissory notes to three accredited investors.
The notes have a maturity of two years. They are convertible at $1.70 per share.
As previously reported, the company completed private placements of $2 million of loans under the same terms between Sept. 12 and Sept. 14.
iCad, based in Nashua, N.H., develops computer-aided detection software used in medical diagnostics.
| Issuer: | iCad, Inc.
|
| Issue: | Convertible loan
|
| Amount: | $1 million
|
| Maturity: | Two years
|
| Coupon: | 7.25%
|
| Conversion price: | $1.70
|
| Warrants: | No
|
| Settlement date: | Sept. 19
|
| Stock symbol: | Nasdaq: ICAD
|
| Stock price: | $1.89 at close on Sept. 19
|
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