MEMPHIS, Tenn., March 10, 2014 (GLOBE NEWSWIRE) -- MRI Interventions, Inc. (OTCQB:MRIC) announced today that it has entered into a purchase agreement with certain accredited investors for a private placement of securities. Upon a closing under the purchase agreement, which is subject to satisfaction of certain closing conditions, MRI Interventions will receive gross proceeds of $3,550,000, before offering-related expenses. The securities being sold by the company consist of 12% second-priority secured non-convertible promissory notes due 2019 and warrants to purchase 0.3 share of MRI Interventions’ common stock for each dollar in principal amount of notes sold by the company, such warrants having an exercise price of $1.75 per share.
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