Health Discovery Plans to Bolster Cash Position via Private Placement as Q2 Revenues Fall | GenomeWeb
NEW YORK (GenomeWeb News) - Health Discovery Corporation said today that it expects to raise between $1.5 million and $2.5 million through a stock purchase agreement with several unnamed financial institutions and "other accredited investors.”
 
Two of these investors have agreed to sit on the company’s board upon closing, which is expected on or before Sept. 7, HDC said.
 
The company also said that its current note holders plan to convert around $2 million of its existing debt into equity.
 

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