Financings in Brief: Vasomedical
This article was originally published in The Gray Sheet
Executive Summary
Vasomedical: Developer of the EECP (Enhanced External Counterpulsation) technology for eliminating symptoms of chronic stable angina announces that Banca del Gottardo has converted "on behalf of its clients" all outstanding 7% $4 mil. convertible debentures due July 7, 2000. The debentures were converted into 4 mil. shares of Vasomedical common stock, the firm says. With the conversion, Vasomedical says it has "eliminated all of its long- term indebtedness, is not obligated to make any interest payments (the first of which, amounting to $280,000 was due in July) and has strengthened its net worth by over $3.5 mil."...