By Angela McDaniels
Seattle, Nov. 4 - Luminetx Corp. said it has secured $11 million in series A preferred stock.
Morgan Keegan & Co. was placement agent in the capital-raising effort with Stanford Financial Group as the lead investor. Other investors included Elm Ridge Capital, Capvest Venture Fund, Custer Capital Inc. and its associated funds and Diomed Holdings Inc.
The funds will be used to increase production of Luminetx's VeinViewer product to meet demand, develop other products within the Luminetx portfolio and expand the company's office space and workforce.
"Morgan Keegan far exceeded our original target in managing this financing effort," said Jim Phillips, chairman, chief executive officer and president of Luminetx, in a company press release.
Headquartered in Memphis, Tenn., Luminetx is a biotechnology company that develops technologies for the fields of digital imaging, SCM, nanotech, wireless, biometric identification and IP communications.
| Issuer: | Luminetx Corp.
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| Issue: | Series A preferred stock
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| Amount: | $11 million
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| Placement agent: | Morgan Keegan & Co.
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| Investors: | Stanford Financial Group (lead), Ridge Capital, Capvest Venture Fund, Custer Capital Inc. and Diomed Holdings Inc.
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| Announcement date: | Nov. 4
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