CardioNet, Inc. Files Resale Registration Statement.CONSHOHOCKEN, Pa. -- CardioNet, Inc. (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 :BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias cardiac arrhythmia n. See cardiac dysrhythmia. Cardiac arrhythmia An irregular heart rate or rhythm. Mentioned in: Holter Monitoring, Stress Test cardiac arrhythmia , today filed a resale registration statement with the SEC related to the shares that were underlying the Mandatorily Redeemable Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". issued in March 2007. The shares being registered remain subject to lock-up agreements entered into in connection with CardioNet's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , pursuant to which the holders have agreed not to sell such shares until at least September 15, 2008. Marty Galvan, CardioNet's Chief Financial Officer, commented: "We have filed this registration statement to satisfy a contractual obligation related to our March 2007 financing. CardioNet is not issuing new shares. The shares that were underlying the Mandatorily Redeemable Convertible Preferred Stock will remain subject to the IPO lock-up IPO Lock-up A legally binding contract between the underwriters and insiders of the company undergoing an initial public offering (IPO). The contract prevents them from selling any shares of stock for a specified period of time. agreements, even upon the registration statement being declared effective." About CardioNet CardioNet, Inc. is a leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias with a solution that it markets as the CardioNet System. More information can be found at http://www.CardioNet.com. |
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