Medis Technologies cancels $5 million private placement of preferreds

By Devika Patel

Knoxville, Tenn., June 9 - Medis Technologies Ltd. said a planned $5 million private placement of series B preferred shares with Volation Capital Partners, LLC has been terminated. The deal priced on June 8.

The company said it does not plan to conduct any further business with Volation.

Medis Technologies is a New York-based maker of fuel cell batteries used in consumer and military electronics.

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