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CardioDynamics

This article was originally published in The Gray Sheet

Executive Summary

Private placement to institutional health care investors completed July 25 raises $18.5 mil. Leading the investment group was Sofinov, societe financiere d'innovation, Inc., a subsidiary of the Caisse de depot et placement du Quebec. Funds will be used to ramp up marketing of the company's BioZ non-invasive digital cardiac function monitoring system. Investors purchased 3.3 mil. unregistered shares of common stock at $5.59 each. In addition, the company repurchased 400,000 shares from an existing investor, yielding net proceeds of $15.5 mil. Gruntal & Co. and Gerard Klauer Mattison & Co. acted as placement agents
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