By Devika Patel
Knoxville, Tenn., July 2 - Intraop Medical Corp. settled a $100,000 tranche of a $1.5 million private placement of 10% four-year senior secured debentures on June 30, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company may sell up to $1.5 million of the debentures.
Lacuna Venture Fund LLLP and Lacuna Hedge Fund LLLP were the investors.
In addition, Lacuna received warrants for 892,857 common shares.
Proceeds will be used for working capital and other general corporate purposes.
Located in Sunnyvale, Calif., Intraop Medical develops, manufactures, markets, distributes and services Mobetron, a mobile electron-beam cancer treatment system designed for use in intraoperative electron-beam radiation therapy.
| Issuer: | Intraop Medical Corp.
|
| Issue: | Senior secured debentures
|
| Amount: | $1.5 million
|
| Maturity: | Four years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Warrants: | For 892,857 shares
|
| Investors: | Lacuna Venture Fund LLLP and Lacuna Hedge Fund LLLP
|
| Settlement date: | June 30 (for $100,000)
|
| Stock symbol: | OTCBB: IOPM
|
| Stock price: | $0.02 at close June 30
|
| Market capitalization: | $7.86 million
|
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