MedicalCV, Inc.
Device manufacturer enters into preferred purchase agreements with six stock holders
Published in Cardiovascular Business Week, January 24th, 2006
Pursuant to these agreements, the company has agreed to acquire an aggregate of 14,988 shares of its preferred stock, the consideration for which will be 45,068,916 newly issued shares of the company's common stock.
The company also has agreed to reduce the exercise price on outstanding warrants for the purchase of 22,969,500 shares of common stock held by such preferred stock holders from $0.50 per share to $0.325 per share, and to accelerate the expiration date of such warrants...
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