MONTGOMERYVILLE, Pa.--(BUSINESS WIRE)--PhotoMedex, Inc. (NASDAQ: PHMD) today announced that NASDAQ has granted the Company’s request for an exception to NASDAQ’s stockholder approval requirements, in accordance with NASDAQ Listing Rule 5635. This will enable the Company to raise, in the first tranche of a private placement without stockholder approval, up to nearly $4 million in the near term through the issuance of up to 6.1 million shares of the Company’s common stock at $0.65 per share to one or more accredited investors approved by the Company. The Company is in process of soliciting investors for the first tranche. The first tranche is expected to close on or about September 28, 2009.
