1/31/2008 10:03:02 AM
SAN JOSE, Calif.--(BUSINESS WIRE)--NewCardio, Inc. announced today the closing of a share exchange agreement with Marine Park Holdings, Inc. (MPHL.OB) whereby NewCardio is now a public company by way of reverse merger. NewCardio’s common stock is currently quoted for trading on the Over the Counter Bulletin Board (OTCBB) under the symbol NWCI.OB. Concurrent with the closing of the agreement, the company completed a private placement financing of $8.2 million of 10% redeemable, non-voting Series A Convertible Preferred Stock, plus warrants. Platinum-Montaur Life Sciences, LLC and Vision Capital Advisors, LLC participated in the financing.
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