PET developer Positron of Houston last week completed a privatestock offering that solves a cash-flow problem that has doggedthe firm since late last year (SCAN 2/28/96). Positron issuedconvertible preferred stock and purchase warrants to raise
PET developer Positron of Houston last week completed a private
stock offering that solves a cash-flow problem that has dogged
the firm since late last year (SCAN 2/28/96). Positron issued
convertible preferred stock and purchase warrants to raise net
proceeds of $3 million, which will be used for working capital,
to make payments on PET components, and to increase its tangible
assets. The offering enabled Positron to meet NASDAQ's tangible
net asset requirements and maintain the company's listing on the
exchange.
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