Finance

MedicalCV, Inc. announces $2.5 million private financing

Published in Pharma Investments, Ventures and Law Weekly, November 19th, 2006

MedicalCV, Inc. (MCVI) announced that it entered into a securities purchase agreement with accredited investors for the sale of approximately $2.5 million of common stock and warrants, and completed the closing of such private placement.

The company sold 714,286 shares of common stock at a price of $3.50 per share, with warrants to purchase an aggregate of 178,571 shares of common stock. Each warrant has a term of 5 years and is exercisable at $4.365 per share, subject to certain anti-dilution adjustments. MedicalCV has agreed to register the common stock and the shares underlying the warrants under applicable federal and state securities laws.

The...

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Source: Pharma Investments, Ventures and Law Weekly (2006-11-19)

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