Imaging center operator Miracor Diagnostics has completed a private placement of $1 million in 3% Series A convertible preferred stock. The 2.7 million shares are convertible one-for-one into common stock at 37¢ per share, subject to certain limitations and registrations, according to the San Diego-based firm.
Also, 810,820 warrants were issued, exercisable at 55¢ per share for a period of five years from the date of issuance. Miracor said it plans to use the net proceeds for working capital needs.
By AuntMinnie.com staff writersJuly 22, 2004
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