By Laura Lutz
Washington, Nov. 30 - Medical Monitors Ltd. arranged a private placement of convertible notes for A$3.5 million.
The 8% notes mature in three years. They will be convertible at a 10% discount to the market price at the time of conversion.
Proceeds will be used for working capital.
Based in Eastgardens, Australia, Medical Monitors provides products to monitor vital signs.
| Issuer: | Medical Monitors Ltd.
|
| Issue: | Convertible notes
|
| Amount: | A$3.5 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | 10% discount to then-current market price
|
| Warrants: | No
|
| Pricing date: | Nov. 30
|
| Stock symbol: | Australia: MDM
|
| Stock price: | A$0.20 at close Nov. 30
|
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