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Canaccord Drops $6 Million In Cedara's Stocking

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Cedara Software has closed a private placement with Canaccord Capital for $6.15 million. The Canadian imaging software firm plans to use the proceeds to finance its operations and the operations of its subsidiaries and to satisfy the payment and interest

Cedara Software has closed a private placement with Canaccord Capital for $6.15 million. The Canadian imaging software firm plans to use the proceeds to finance its operations and the operations of its subsidiaries and to satisfy the payment and interest deferred from Sept. 30 to former owners of Dicomit, acquired in mid-2000. In addition, Cedara will be able to raise another $3.1 million by selling shares in its Surgical Navigation Specialists (SNS) business to the investing lenders. This move will give the investors a maximum 6% interest in SNS.

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