Financings in Brief: Medical Device Technologies Inc.
This article was originally published in The Gray Sheet
Medical Device Technologies Inc.: Firm's registration statement relating to a secondary offering of 6% cumulative convertible series A preferred stock is declared effective by SEC. Medical Device Technologies, developer of the Personal Alarm System, offers 1.5 mil. shares of preferred stock for $5 per share, and 1.5 mil. redeemable warrants for 10 [cents] each. Preferred shares in the offering are convertible to four shares of common stock at a conversion price of $1.25 per share; the warrants are exercisable for two shares of common stock for an aggregate price of $3.75. Prior to the offering, Medical Device Technologies enacted a one-for-two reverse stock split of its common shares on June 21...
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