Pharma Investments, Ventures & Law Weekly
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Merge Healthcare Incorporated
Merge Healthcare Announces $20 Million Financing Through the Private Placement of Senior Secured Debt and Common Stock and Agreement in Principle Regarding the Settlement of Its Securities Class Action Lawsuit
June 15th, 2008
Merge Healthcare Incorporated (NASDAQ:MRGE) (TSX:MRG), a leading medical imaging software and services provider, announced that it has entered into a securities purchase agreement and related agreements with Merrick RIS, LLC ("Merrick") for $20 million in financing through a private placement. Pursuant to the terms of the private placement, the Company intends to sell (i) a $15 million senior secured term note due 2010 and 6,800,000 shares of the Company's common stock as partial consideration for the term note and (ii) 14,285,715 shares of the Company's common stock at a price per share of $.35. The private placement was made pursuant to an exemption from the registration requirements...
Source: Pharma Investments, Ventures & Law Weekly (2008-06-15)
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