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PLC Systems Inc Raises $1.75 Million in Equity Financing

Wednesday, 18 Sep 2013 04:05pm EDT 

PLC Systems Inc announced that it has raised $1.75 million in gross proceeds through the sale of 29,166,668 shares of common stock at a purchase price of $0.06 per share and five-year warrants to purchase 29,166,668 shares of common stock at an exercise price of $0.08 per share. PLC Systems plans to use the proceeds from this financing to fund the ongoing U.S. pivotal trial with RenalGuard during imaging procedures and for general corporate purposes. In connection with this financing, the outstanding Senior Secured Convertible Debt has been re-priced to $0.06 per share, and future interest payments have been suspended. Palladium Capital served as the exclusive placement agent for the offering. 

Latest Developments for PLC Systems Inc

Company Quote

4.0E-4 +7.84%
22 Aug 2014