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Article: PhotoMedex Raises $2.7 Million in Private Placement of Common Stock.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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PhotoMedex, Inc. (Nasdaq:PHMD) announced that it has closed a private placement of approximately 4.17 million shares of its common stock at a price of $0.65 per share. Gross proceeds from the private placement are approximately $2.7 million. The purchasers were accredited investors, some of which were institutions. No finders' fees or warrants were involved in the placement. The Company intends to use the proceeds from the private placement for general working capital purposes.
The securities offered in the private placement were not registered under the Securities Act of 1933, as amended (the "Act"), or any state securities laws, and may not be offered or sold ...