Financings in Brief: Medical Device Technologies Inc.
This article was originally published in The Gray Sheet
Executive Summary
Medical Device Technologies Inc.: Files registration statement with SEC for an offering of 1.5 mil. shares of cumulative convertible preferred stock to be sold by the company and certain selling shareholders. The preferred stock will pay dividends semi-annually, MDT says. Proceeds are slated to support marketing of the company's first medical device, the personal alarm system. Funds also will be used "to complete the development of the company's second and third medical devices, the Cell Recovery System and the Intracranial Pressure Monitoring Device, to repay indebtedness, and for working capital purposes," the firm says...