Medical Device Companies
Cambridge Heart Completes First Close in Private Placement
Published in Medical Devices and Surgical Technology Week, February 5th, 2012
2012 FEB 5 -- Cambridge Heart, Inc. (OTCBB: CAMH), a developer of non-invasive diagnostic tests for cardiac disease, announced that on January 17, 2012 it completed an initial closing of a private placement to new and current institutional and individual accredited investors. The private placement is structured as a sale of senior secured promissory notes that are convertible into shares of the Company's common stock at a conversion price of $0.11 per share together with four-year warrants to purchase shares of common stock at an exercise price of $0.15 per share. The number of warrant shares issued to each investor is equal to the principal amount of the note divided by the...
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