Vertical Health Solutions cancels $3.9 million in outstanding convertible preferreds

By Sheri Kasprzak

New York, Nov. 29 - Vertical Health Solutions, Inc. said it has cancelled $3.9 million in outstanding convertible preferred stock.

The company paid $3,827,631 in cash and issued 640,000 in common shares to repay the preferreds, which had been held by Laurus Master Fund, Ltd.

A total of $4 million in preferreds were issued to Laurus on May 28, 2004 together with warrants for 820,000 shares.

Based in Oldsmar, Fla., Vertical sells supplements and health products to veterinarians.

On Tuesday, the company's stock remained unchanged at $0.51.

© 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.