NEW YORK (GenomeWeb) – PositiveID today announced an agreement with an unidentified institutional investor for $2.4 million in financing. 

Under the terms of the deal, PositiveID will issue a series of 4 percent original issue discount senior secured convertible promissory notes to the investor during a six-month period in a series of six notes. The investor has the right to convert the notes into PositiveID's common shares at a fixed conversion price of $.028 per share, the Delray Beach, Florida-based firm said. 

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