AMDL Announces Second Closing of Private Offering Totaling $5.3 Million to Primarily Support Sales and Marketing Growth in China
June 07 2007 - 4:05PM
PR Newswire (US)
TUSTIN, Calif., June 7 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of cancer detection &
vaccine technologies and with China-based pharmaceutical
manufacturing, consumer sales and clinical trail activities,
announced today that it has completed a second closing of its
combined Regulation D/Regulation S private unit offering of shares
of common stock and warrants to purchase shares of common stock.
The second closing generated gross proceeds of $1,540,875,
consisted of 587,000 shares of AMDL common stock sold at $2.625 per
share and three year warrants to purchase an additional 293,501
shares, which warrants are exercisable at $3.86 per share. Warrants
to purchase an additional 58,700 shares were also issued to the
placement agents at the same exercise price. The offering generated
total gross proceeds of approximately $5,330,375, exclusive of
placement agent fees and expenses of approximately $693,000. AMDL
has agreed to file a registration statement to register the resale
of the shares and shares issuable on exercise of the warrants
issued in the offering. Gary Dreher, CEO of AMDL said, "The funds
from the second closing will be used primarily for new production
lines and distribution necessary for JPI's new products which were
recently announced, as well as general operations. Jade
Pharmaceutical Inc. (JPI), a wholly owned subsidiary of AMDL,
engages in the development, manufacture and marketing of
proprietary pharmaceutical and testing products. The new products
include: Ondansetron, Lomefloxacin, Docetaxel, and Levofloxacin. We
have orders for these new products, which need to be filled. These
products have tremendous market potential and are a part of our
overall plan to increase sales and profits for the short and long
term in China." About AMDL AMDL, Inc., headquartered in Tustin,
California, with operations in Shenzhen, Jaingxi and Jilin China
through its wholly owned subsidiary Jade Pharmaceutical Inc., is an
international biopharma company. AMDL together with Jade engages in
the development, manufacture and marketing of proprietary
pharmaceutical and testing products. More information about AMDL
and its products can be obtained at http://www.amdl.com/.
Forward-Looking Statements This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to certain risks and uncertainties, and actual
circumstances, events or results may differ materially from those
projected in such forward-looking statements. The Company cautions
readers not to place undue reliance on any forward-looking
statements. The Company does not undertake, and specifically
disclaims any obligation, to update or revise such statements to
reflect new circumstances or unanticipated events as they occur.
DATASOURCE: AMDL, Inc. CONTACT: Paul Knopick, AMDL Investor
Relations, +1-949-707-5365, or VoiceMail, +1-714-505-4460 Web site:
http://www.amdl.com/
Copyright
Amdl (AMEX:ADL)
Historical Stock Chart
From May 2024 to Jun 2024
Amdl (AMEX:ADL)
Historical Stock Chart
From Jun 2023 to Jun 2024