Women's Health Weekly
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Business & Finance
In vitro diagnostic products developer to sell 4,000,000 shares of common stock
September 1st, 2005
Inverness Medical Innovations, Inc. (IMA) announced that it has entered into definitive agreements with funds affiliated with 3 accredited institutional investors to sell 4,000,000 shares of its common stock in a private placement at $23.76 per share. Inverness intends to use the proceeds to repay indebtedness under its senior credit facility and for general corporate purposes. The transaction is expected to close this week. Inverness Medical Innovations is a developer of in vitro diagnostic products. The company is presently exploring new opportunities for its lateral flow immunoassay and other proprietary technologies in a...
Source: Women's Health Weekly (2005-09-01)
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