Medtech Insight is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Financings in Brief: LG Technologies Group, Inc.

This article was originally published in The Gray Sheet

Executive Summary

LG Technologies Group, Inc.: Electronic component manufacturer enters medical device market by purchasing majority stake in St. Petersburg, Florida-based Biotronix Laboratories, which makes an electronic device designed to destroy needles contained in syringe devices. LGT acquired 60% of the common shares of Biotronix for approximately 1 mil. Canadian dollars (approximately $748,000 US) and 100% of the preferred shares for about 1.5 mil. Canadian dollars (about $1.1 mil. US). LGT recently completed an offering of 150,846 of its common shares at about $6.50 (Canadian), $4.86 (US), per share, netting the company $980,499 (Canadian), approximately $734,000 (US). Proceeds from the offering will be used to cover the 60% interest investment in Biotronix. The Laval, Quebec-based company retains the option to purchase the remaining 40% interest in Biotronix, the firm says...
Advertisement
Advertisement
UsernamePublicRestriction

Register

MT007039

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel