LOS ANGELES--(BUSINESS WIRE)--CompuMed, Inc. (OTCBB:CMPD) -- a medical informatics company leading the development of advanced imaging technology for cost-effective analysis and monitoring -- today announced it has closed a $2 million private placement consisting of 4,167 shares of Preferred Stock and warrants to purchase 4,166,500 shares of common stock. The warrants have an exercise price of $0.30 and expire on March 12, 2012. The shares of preferred stock will convert into 8,333,000 shares of common stock. The underlying stock is unregistered, which means it can’t be sold or transferred except under very limited circumstances for one year from the date of issuance. The investor will have board observation rights and the ability to appoint one director to the Company’s board of directors. The Company filed a Form 8-K with the Securities and Exchange Commission on March 16 with the terms of the agreements entered into by the investor and the Company. Bathgate Capital Partners, LLC acted as placement agent for the transaction.
