By Sheri Kasprzak
Atlanta, April 12 - Recom Managed Systems Inc. said it has completed a private placement for $3 million, bringing to $8 million the total proceeds from two offerings the company closed this month.
The company sold 937,500 shares at $3.20 each to one institutional investor.
The investor also received warrants for 900,000 shares, exercisable at $1.60 each.
On April 1, the company wrapped a private placement for $5 million under the same terms.
Based in Los Angeles, Recom is a life science company focused on monitoring and detecting diseases through biomedical signal monitoring. The proceeds will be used to market the company's Model 100 Heart Monitor.
| Issuer: | Recom Managed Systems Inc.
|
| Issue: | Stock
|
| Amount: | $3 million
|
| Shares: | 937,500
|
| Price: | $3.20
|
| Warrants: | For 900,000 shares
|
| Warrant strike price: | $1.60
|
| Settlement date: | April 12
|
| Stock price: | $3.02 at close April 11
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
