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Financings in Brief: ChemTrak

This article was originally published in The Gray Sheet

Executive Summary

ChemTrak: Diagnostics firm raises $1.3 mil. in a private placement of redeemable preferred stock with seven private investors. The placement is the first of two financing rounds anticipated by the firm. A second round of up to $2.7 mil. is expected in April. Proceeds will go towards marketing and advertising costs associated with the ongoing roll out of the firm's Parent's Alert home drug testing service. Launched in October, a "full national advertising" campaign is set to begin in April, ChemTrak reports...
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