By Sheri Kasprzak
New York, July 31 - Intraop Medical Corp. concluded a €250,000 private placement of promissory notes with Eckert & Ziegler Strahlen-und Medizintechnik.
The 7.5% notes are due the earlier of 20 days from the closing date of a $4 million equity financing or Jan. 31, 2008.
The investor also received warrants for 100,000 shares, exercisable at $0.45 each for two years.
Proceeds will be used for working capital.
Sunnyvale, Calif.-based Intraop manufactures a mobile electron-beam cancer treatment system.
| Issuer: | Intraop Medical Corp.
|
| Issue: | Promissory notes
|
| Amount: | €250,000
|
| Maturity: | The earlier of 20 days after completion of a $4 million placement or Jan. 31, 2008
|
| Coupon: | 7.5%
|
| Price: | Par
|
| Yield: | 7.5%
|
| Warrants: | For 100,000 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.45
|
| Investor: | Eckert & Ziegler Strahlen-und Medizintechnik
|
| Settlement date: | July 25
|
| Stock symbol: | OTCBB: IOPM
|
| Stock price: | $0.20 at close July 25
|
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