New Issue: Non-Invasive Monitoring takes in $1.5 million from sale of convertible preferreds

By Devika Patel

Knoxville, Tenn., April 7 - Non-Invasive Monitoring Systems, Inc. announced it raised $1.5 million in a private placement of convertible preferred shares.

The company sold 1,000 series D convertible preferred shares at $1,500 per share.

Each of the preferreds is convertible into 5,000 common shares.

Based in North Bay Village, Fla., Non-Invasive Monitoring makes cardio-respiratory monitors.

Issuer:	Non-Invasive Monitoring Systems, Inc.
Issue:	Series D convertible preferred stock, convertible into 5,000 common shares
Amount:	$1.5 million
Shares:	1,000
Price:	$1,500
Conversion ratio:	Into 5,000 common shares
Warrants:	No
Settlement date:	April 7
Stock symbol:	OTCBB: NIMU
Stock price:	$0.55 at close April 4

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