Printer Friendly

Q-MED ANNOUNCES FINANCING

 Q-MED ANNOUNCES FINANCING
 LAURENCE HARBOR, N.J., March 16 /PRNewswire/ -- Q-Med, Inc.


(NASDAQ: QEKG) today announced that it closed the first phase of a private placement and refinanced its loan facility with First Fidelity Bank. As a result of this transaction, the company issued 447,500 shares to private investors, 203,674 shares to First Fidelity Bank and converted a $1.5 million loan balance due April, 1992 to a three year term loan at 1 percent over prime. The company expects to close the balance of the private placement on or about April 1, 1992.
 Cox, president and CEO of Q-Med, commented that "the increase of approximately $1.2 million to Q-Med's net worth and the substantial increase in working capital resulting from these transactions will greatly assist the company's efforts to increase its salesforce, introduce new products and expand its marketing efforts."
 -0- 3/16/92
 /CONTACT: Micheal W. Cox, president and CEO of Q-Med, 908-566-2666 or 800-237-2039/
 (QEKG) CO: Q-Med Inc. ST: New Jersey IN: HEA SU: FNC TS-AH -- NY027 -- 8201 03/16/92 10:13 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 16, 1992
Words:180
Previous Article:VALUE LINE'S THIRD QUARTER EARNINGS UP 66 PERCENT
Next Article:VOLKSWAGEN CONTRACTS WITH ENVIRONMENTAL PROTECTION AGENCY TO DEVELOP DIRECT-INJECTION METHANOL ENGINE
Topics:


Related Articles
QUAL-MED ANNOUNCES LETTER OF INTENT TO ACQUIRE COMPLETE HEALTH
MEDIQ DECLARES QUARTERLY CASH DIVIDEND
QMED ANNOUNCES THE APPOINTMENT OF TWO OUTSIDE ADVISORS TO ITS BOARD OF DIRECTORS
QMED ANNOUNCES MANAGEMENT APPOINTMENTS IN ITS SUBSIDIARY INTERACTIVE HEART MANAGEMENT CORP.
QMED REPORTS SECOND QUARTER RESULTS
qmed Reports Third Quarter Results
qmed, Inc. Announces a 95% Increase in the use of Beta-Blockade in Patients who have had a Heart Attack and Enrolled in its ohms/cad(R) System and a...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters