FREDERICK, Md., Dec. 15 /PRNewswire-FirstCall/ -- BioElectronics Corporation, announced today that it raised $1.0 million in debt financing via a convertible debenture placed with an investor group through Hunter Wise Securities, LLC. The new debenture instruments are convertible to common stock of the Company at a fixed price with one to one warrant coverage at a premium to market.
BioElectronics Corporation’s COO, Thomas J. O’Connor, commented, “The capital raised in this transaction provides us with the funding necessary to continue our significant progress in developing the markets and clinical support for our breakthrough products. We have seen positive results from our sales and marketing efforts and this infusion of capital will accelerate our progress.”
Daniel J. McClory, Managing Director of Hunter Wise, an NASD and SIPC member firm, commented “We are very pleased to have led the placement of this transaction for BioElectronics Corporation. This financing will provide the Company with additional resources to expand on their early successes with ActiPatch.”
About BioElectronics:
BioElectronics Corporation is a developer and marketer of advanced, inexpensive, disposable, drug-free, medical devices cleared by the US FDA, the European Union and the Canadian regulatory authorities. ActiPatch(TM) Therapy is a dermal patch with an embedded battery operated microchip that delivers weeks of continuous pulsed therapy for a few dollars a day. The patch delivery system and the Company’s patented technology provides an inexpensive, self- administered equivalent of the operator-administered pulsed electromagnetic energy therapy used extensively world-wide to reduce swelling, relieve pain and enhance the healing of post-surgical incisions, chronic wounds (bedsores) and orthopedic conditions. For more information, visit http://www.bioelectronicscorp.com.
About Hunter Wise Financial Group, LLC:
Hunter Wise Financial Group, LLC, and its wholly-owned Broker/Dealer Hunter Wise Securities, LLC, a NASD and SIPC member firm, have created a new dimension in investment banking: providing “Fortune 500"- type corporate finance services exclusively designed for an often-overlooked market segment - - small to medium-sized public companies, as well as selected middle market, privately-held businesses. More information on Hunter Wise is available at http://www.hunterwise.com or by calling 949 852 1700.
This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management in light of current conditions, expected future developments and other factors it believes to be appropriate. Actual results may differ as a result of factors over which the Company has no control.
BioElectronics Corporation
CONTACT: Thomas O’Connor, EVP & COO of BioElectronics Corporation,+1-301-644-3906, or info@bioelectronicscorp.com
Web site: http://www.bioelectronicscorp.com/