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American BioMed

This article was originally published in The Gray Sheet

Executive Summary

$10 mil. equity financing agreement, provides "sufficient operating capital" to enable expeditious implementation of a strategic plan to "reposition the company as a developer and marketer of minimally invasive surgical devices," the firm says. Additional "funding tranches" are anticipated as the plan is implemented and specific milestones are completed, American BioMed notes. The Woodlands, Texas firm says it is now positioned to "aggressively" pursue acquisitions and product commercialization activities. The NIR Group has been retained as the firm's investment banker and financial advisor for acquisitions and strategic planning
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