By Sheri Kasprzak
New York, April 17 - CardioDynamics International Corp. said it has concluded an oversubscribed private placement of three-year subordinated convertible notes for $5.25 million.
The 8% notes are convertible into common shares at $1.15 each.
The investors include Atlas Master Fund, Ltd.; Visium Balanced Fund, LP; Visium Balanced Fund Offshore, Ltd.; Visium Long Bias Fund, LP; and Visium Long Bias Fund Offshore, Ltd.
On April 6, the company announced its plans to raise $4 million in the offering.
San Diego-based CardioDynamics manufactures non-invasive impedance cardiography products and medical device electrodes.
| Issuer: | CardioDynamics International Corp.
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| Issue: | Convertible notes
|
| Amount: | $5.25 million
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| Maturity: | Three years
|
| Coupon: | 8%
|
| Price: | Par
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| Yield: | 8%
|
| Conversion price: | $1.15
|
| Warrants: | No
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| Investors: | Atlas Master Fund, Ltd.; Visium Balanced Fund, LP; Visium Balanced Fund Offshore, Ltd.; Visium Long Bias Fund, LP; and Visium Long Bias Fund Offshore, Ltd.
|
| Pricing date: | April 11
|
| Stock symbol: | Nasdaq: CDIC
|
| Stock price: | $1.16 at close April 11
|
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