By Devika Patel
Knoxville, Tenn., June 24 - Revolutions Medical Corp. said it has arranged a $10 million equity line of credit.
The company will sell $10 million in common stock over two years at an 8% discount via agent Southridge Investment Group, LLC.
Proceeds will be used to execute the company's business plan and bring its proprietary products to market.
Based in Mount Pleasant, S.C., Revolutions Medical designs and develops retractable safety needle devices.
| Issuer: | Revolutions Medical Corp.
|
| Issue: | Equity line of credit
|
| Amount: | $10 million
|
| Tenor: | Two years
|
| Price: | 8% discount
|
| Warrants: | No
|
| Agent: | Southridge Investment Group, LLC
|
| Pricing date: | June 24
|
| Stock symbol: | OTCBB: RMCP
|
| Stock price: | $0.46 at close June 23
|
| Market capitalization: | $8.52 million
|
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