This article was originally published in The Gray Sheet
Receives a $17.5 mil. financing commitment from Appaloosa Management, L.P., including $16.75 mil. in zero-coupon secured notes, convertible into 5.6 mil. shares, and a 250,000 share equity investment, plus additional warrants. "We are now poised to deliver on our commitment to shareholders by offering a broader and fuller line of safety [needle] products to meet market and healthcare worker demands," Chairman Richard Ribakove comments. The firm simultaneously announced appointment of Carl Sahi president and CEO, replacing Richard Higgins, who is retiring
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