DOBI Medical International, Inc. (“the Company”) (OTCBB-DBMI) announced today it closed a private placement of its Series A Preferred shares on July 2, 2004. The Company sold 122 Series A Preferred shares, which carry a coupon of 8% per year, and are convertible into 1.525 million shares of common stock, for $25,000 per share. Gross proceeds of the transaction were $3.05 million. The Company also issued 1.525 million 4-year investor warrants to purchase common stock at a price of $3.00 per share.
