By Sheri Kasprzak
New York, July 3 - American Surgical Holdings, Inc. closed a $2.715 million private placement of units comprised of 15% unsecured promissory notes and warrants.
The company sold 2,715 units, each of which includes $100,000 in principal of the notes and a five-year warrant for 100,000 common shares. The notes are due 2008.
Each warrant is exercisable at $2.00.
Dawson James Securities, Inc. was the placement agent.
Proceeds will be used for working capital.
American Surgical, based in Houston, provides surgical assistant services to patients and health care professionals.
| Issuer: | American Surgical Holdings, Inc.
|
| Issue: | Units of $100,000 in unsecured promissory notes and 100,000 warrants
|
| Amount: | $2.715 million
|
| Units: | 2,715
|
| Price: | $1,000
|
| Maturity: | 2008
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Warrants: | For 100,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.00
|
| Placement agent: | Dawson James Securities, Inc.
|
| Settlement date: | July 2
|
| Stock symbol: | OTCBB: ASRG
|
| Stock price: | $1.95 at close July 2
|
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