Trimedyne Raises $3 Million To Finance An Expected Increase In Sales Of New Laser Fiber

LAKE FOREST, Calif.--(BUSINESS WIRE)--TRIMEDYNE, INC. (OTCBB: TMED) today announced it raised $ 3,250,000 through a private offering of 2,600,000 shares of Common Stock at a price of $1.25 per share. The offering was conducted by J. H. Darbie & Co., Inc., an international investment banking firm with its headquarters at 99 Wall Street, New York, NY. The investors include Crescent International Ltd. and Leviticus Partners LP and funds managed by Corsair Capital Management and Lewis Asset Management.