Certified Diabetic Services, Inc. Closes $2.75 Million Equity 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 national direct-to-consumer mail-order distributor of diabetic supplies and pharmaceutical services, announced that it has closed a $2.75 million private placement. The funds will be used to repay outstanding bank debt and provide working capital to fund acquisitions. The $2.75mm was structured as preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. which are convertible into common shares; the investor also received warrants in the deal. Midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Partners & Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as sole placement agent in this transaction. Certified Diabetic Services, Inc., headquartered in Naples, Florida Naples is a city in Collier County, Florida, USA. As of 1 July 2006, the U.S. Census Bureau estimated the city's population at 21,804.[3] Naples is the County seat of Collier County, and is a Principal City of the Naples-Marco Island, Florida Metropolitan Statistical , is a rapidly growing distributor currently serving over 13,500 member patients with Medicare, Medicaid, and private insurance who require monthly diabetic supplies and pharmaceutical services. Midtown Partners & Co., LLC is an investment bank focused on private placement investment banking opportunities. Originally founded in May 2000, the Investment Banking Group at Midtown Partners & Co. strives to serve emerging growth companies. Additional information can be found at www.midtownpartners.com. |
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