InforMedix to raise up to $4 million in private placement

By Sheri Kasprzak

New York, Sept. 13 - InforMedix Holdings, Inc. said it plans to raise up to $4 million from a private placement.

The equity securities will be purchased by a private investment fund and the company plans to use the proceeds to manufacture additional Med-eMonitor System devices, as well as expand sales and marketing activities. The rest will be used for working capital.

The exact terms of the offering have not yet been determined.

Also on Tuesday, InforMedix said it completed an interim convertible debt financing for $650,000.

Based in Rockville, Md., InforMedix is a medical device company focused on patient-monitoring devices used by pharmaceutical and biotechnology companies.

The company's stock remained unchanged at $0.18 Monday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.