Athena Medical Secures Interim Financing.PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 3, 1996--Athena Medical Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Bulletin Board: AFEM AFEM Armed Forces Expeditionary Medal AFEM Air Force Emergency Management (US Air Force) ), doing business as A-FEM Medical Corp., announced that Capital Consultants Inc. has provided approximately $1.2 million in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to A-FEM. This financing is intended to provide interim funds for the company to proceed with its new product marketing efforts while it completes a planned private placement of up to $10 million of additional equity. The latest investment in Athena Medical is the second for Capital Consultants, which also made significant investment in the company in December 1994. "We are pleased with this renewed demonstration of support from a major shareholder," said William H. Fleming, president of Athena Medical. "Our plan is to use the proceeds from this interim financing Interim financing A short-term loan made to a company on the condition that a takeout will follow with long-term or intermediate financing. interim financing The financing that supports a transaction until permanent financing can be arranged. , and the larger private placement that we are still working on, to further the retail roll-out of our Padette feminine hygiene Feminine hygiene is a general term used to describe products used by women during menstruation, vaginal discharge, and other bodily functions related to the vulva. Sanitary Towels (also known as maxi-pads or napkins), pantiliners, tampons, and feminine wipes are the major product. Initial customer response has been positive, and we will use these resources to put solid marketing programs behind it." Athena Medical Corp. (dba A-FEM Medical Corp.) manufacturers and distributes feminine health care products and diagnostics on a worldwide basis. CONTACT: Harris Massey Herinckx Fletcher Chamberlin, 503/295-1922 |
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