By Sheri Kasprzak
Atlanta, Feb. 15 - CareDecision Corp. said it has raised $2 million from a private placement of series C convertible preferred stock.
The company sold 20,000 shares of the series C preferreds at $1,000 each to Mercator Momentum Fund LP, Monarch Pointe Fund Ltd. and Mercator Advisory Group LLC.
The preferreds are convertible into common shares at 80% of the market price before conversion. The preferreds do not pay dividends.
The investors also received warrants for 100 million shares, 50 million of which are priced at $0.02 each and 50 million of which are priced at $0.03 each.
Based in Westlake Village, Calif., CareDecision develops handheld information systems and software for the healthcare industry.
| Issuer: | CareDecision Corp.
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| Issue: | Series C convertible preferred stock
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| Amount: | $2 million
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| Shares: | 20,000 |
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| Price: | $1,000
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| Conversion price: | 80% of the market price before conversion
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| Warrants: | For 100 million shares
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| Warrant strike price: | $0.02 for 50 million; $0.03 for 50 million
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| Investors: | Mercator Momentum Fund LP, Monarch Pointe Fund Ltd. and Mercator Advisory Group LLC
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| Settlement date: | Feb. 7
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| Stock price: | $0.02 at close Feb. 7
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