MRI vendor Fonar has received $4.5 million in financing from venture capital group Tail Wind Fund. In exchange for the investment, the Melville, NY-based firm issued convertible debentures and two series of warrants to the fund. The debentures are convertible to Fonar common stock. Fonar will use the capital from Tail Wind Fund to finance its production effort, according to president and chairman Raymond Damadian.
By AuntMinnie.com staff writersJune 4, 2001
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