Certified Diabetic Services, Inc. Closes $2 Million Financing.NAPLES, Fla. -- Certified Diabetic Services, Inc. ("CDS") (Pink Sheets:CDIP (CERamic Dual In-line Package) A DIP chip made of ceramic materials. It uses gold-plated leads attached to two sides by brazing and a metal lid bonded to the chip with a metal seal. See DIP, CERDIP, CERQUAD and chip package. ), a direct-to-consumer mail-order distributor of diabetic supplies and pharmaceuticals, announced that it has closed a $2 Million private placement debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay to be used to repay outstanding bank debt and provide working capital to fund operations. The debt is structured as a $1 million senior secured one-year term note and up to $1 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. . The investor received both common stock and warrants in the deal. Midtown Partners & Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as sole placement agent in this transaction. CDS, headquartered in Naples, Florida, is a rapidly growing distributor currently serving over 12,000 member patients with Medicare, Medicaid, Managed Care private insurance, who require monthly diabetic supplies, pharmaceuticals and doctor ordered diabetic education. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion