New Issue: AMDL completes $337,000 second tranche, lifts total share issue to $1 million

By Sheri Kasprzak

New York, Aug. 30 - AMDL, Inc. said it has completed the $337,000 second tranche of an overall $1,007,000 private placement.

In the most recent tranche, the company sold 1,069,841 shares at $0.315 each to accredited investors. The price per share is a 25% discount to the average closing price for the five trading days before the closing date.

On Aug. 16, the company completed the first tranche of the deal, selling 2,093,750 shares at $0.32 each.

The investors also received warrants equal to half of the shares issued in the offering. The warrants associated with the first tranche are exercisable at $0.49 each, and the warrants associated with the second tranche are exercisable at $0.44 each.

Tustin, Calif.-based AMDL develops and markets tests for the early detection of cancer and other diseases.

Issuer:	AMDL, Inc.
Issue:	Stock
Amount:	$337,000 (for second tranche); $1,007,000 (total proceeds)
Shares:	1,069,841 (for second tranche); 3,163,591 (total shares)
Price:	$0.315 (for second tranche); $0.32 (for first tranche)
Warrants:	Equal to half of shares purchased
Warrant strike price:	$0.49 for first tranche; $0.44 for second tranche
Settlement date:	Aug. 29
Stock price:	$0.39 at close Aug. 29

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