MediCor raises $50 million from private placement of convertible notes

By Sheri Kasprzak

New York, April 27 - MediCor Ltd. said it has completed a $50 million private placement of senior secured convertible notes.

The full terms of the offering could not be determined by press time Thursday.

UBS Investment Bank was the placement agent for the offering.

Connected to the deal, Sirius Capital LLC converted $37.5 million of outstanding loans into senior secured convertible notes and warrants.

Las Vegas-based MediCor manufactures breast implants.

The company's stock jumped 18.92%, or 70 cents, to settle at $4.40 (OTCBB: MDCR).

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