MELVILLE, N.Y.--(BUSINESS WIRE)--Bovie Medical Corporation (the “Company”) (NYSE Alternext US: BVX), a manufacturer and marketer of electrosurgical products, today announced the closing of an Industrial Revenue Bond (IRB) offering by the Pinellas County Development Authority (Florida) on behalf of Bovie in the amount of $4,000,000. The bond is covered by a letter of credit by Royal Bank of Canada. The proceeds of the IRB substantially satisfied the balance on the Company’s line of credit used to purchase a larger facility in Largo, FL. The new facility allows the Company to consolidate its operations and provides for its future growth needs. The Company during the next several months will make available for sale its current premises in St. Petersburg, FL.
