Brachytherapy and hyperthermia therapy developer BSD Medical of Salt Lake City has inked a purchase agreement with two investors for the sale of shares of its common stock.
BSD will sell 1.2 million shares for a total of $2.8 million. Proceeds from the offering will be used for product development, sales, marketing, and general business purposes, according to BSD. The proceeds will not be used to fulfill any existing debt. The offering will close on or before August 24.
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BSD Medical teams with GE, September 1, 2008
BSD Medical to switch to Nasdaq, April 10, 2008
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