Health & Community Living
This article was originally published in The Gray Sheet
Executive SummaryPlans to go public with a proposed offering of 600,000 shares of common stock priced at $6.00 per share, according to a registration statement filed with the Securities and Exchange Commission. The Gaithersburg, Maryland development-stage company makes the Hydra-Commode Lift and Stair-Climber devices for "physically challenged" individuals. The firm plans to use anticipated proceeds of $2.8 mil. to commence full-scale production and marketing of its products, for the acquisition of CamTec (a manufacturer of stainless steel medical equipment), the acquisition of "additional products and a distribution center," as well as for working capital, R&D and office equipment. Goldis Financial Group is underwriting the offering.
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