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Medifocus brings in $3.5M via debt financing

Thu, 12/19/2013 - 1:29pm
Mass Device

Medifocus raises $3.5 million through a convertible debt financing round, part of the company's private stock offering.

Medifocus brings in $3.5M in convertible debt financing

Medifocus (PINK:MDFZF) said it brought in $3.5 million in a private offering of convertible debt, a raise tied to company's August non-brokered private placement of $6 million.

The $3.5 million came from 354 redeemable promissory notes priced at $10,000 per unit, according to a company statement. The money is being put towards "accelerating the commercialization of the Prolieve line of business and for working capital," Medifocus said.

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