SAVANNAH, Ga.--(BUSINESS WIRE)--Health Discovery Corporation (“HDC”) (OTCBB:HDVY) today announced in its second quarter 10QSB that it has entered into a stock purchase agreement with several financial institutions and other accredited investors, two of whom have agreed to serve on the board upon closing. Under the terms of the private placement, HDC expects to raise a minimum of $1,500,000 to a maximum of $2,500,000 in new equity funding. In addition, the Company’s current note holders intend to convert approximately $2,000,000 of existing debt into equity. The deal is anticipated to close on or before September 7, 2007.
