New Issue: MDI sells $4 million private placement of stock

New York, Aug. 8 - MDI, Inc. said it completed an agreement to sell $4 million of common stock to private institutions.

The San Antonio, Tex., provider of alarm management and video security solutions will sell 2.9 million shares at $1.40 per share.

In addition, the investors will receive warrants for 1.45 million shares at a price of $3.14.

MDI will use proceeds to strengthen its capital structure and for general corporate purposes.

Issuer:	MDI, Inc.
Issue:	Stock
Amount:	$4 million
Shares:	2,900,000
Price:	$1.40
Warrants:	For 1,450,000 shares
Warrant strike price:	$3.14
Announcement date:	Aug. 8
Stock price:	$2.62 at close Aug. 8

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.