- Current report filing (8-K)
January 30 2009 - 4:57PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of Earliest Event Reported):
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January 30, 2009
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AMDL, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware
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0-27689
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33-0413161
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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2492 Walnut Avenue, Suite 100, Tustin, California
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92780
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
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714-505-4461
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Not Applicable
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Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.02 Unregistered Sales of Equity Securities.
Final Closing of Private Placement
On January 30, 2009, we conducted the second and final closing (the "Final Closing") of a private offering under Regulation D for the sale to accredited investors of units consisting of $680,000 principal amount of 12% Senior Notes ("Notes") and five year warrants to purchase a total of 544,000 shares of our common stock at $1.13 per share (the "Warrant Shares"). Under the terms of the offering, the exercise price of the Warrant Shares was to be greater of 115% of the five day weighted average closing prices of our common stock as reported by NYSE Alternext US for the five trading days ended on January 30, 2009 or $1.00 per share.
We previously received $1,077,500 in gross proceeds (net proceeds of $947,425) in the First Closing held on December 8, 2009. An application for approval from the NYSE Alternext US for listing of all of the Warrant Shares (including the 862,000 issued in the First Closing) will be made as soon as practicable.
We may receive additional gross proceeds of approximately $862,000 from the exercise of the warrants issued in the First Closing and $617,720 from exercise of warrants issued in the Final Closing, exclusive of any proceeds from the exercise of placement agent warrants issued in the offering. No assurances can be given that any of the warrants will be exercised.
In connection with the offer and sale of securities to the purchasers in the offering, our exclusive placement agent was Cantone Research, Inc., a FINRA member broker- dealer. Cantone Research, Inc. received sales commissions of $68,000 and $27,900 non-accountable expenses for services in connection with the Final Closing. In addition, in the Final Closing we issued placement agent warrants to purchase a total of 54,400 shares, of which Cantone Research, Inc. received placement agent warrants to purchase 44,560 shares, Galileo Asset Management, S. A. received warrants to purchase 7,840 shares and Security Research Associates, Inc. received placement agent warrants to purchase 2,000 shares.
We relied on the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Rule 506 promulgated thereunder. We believe that all of the purchasers are "accredited investors," as such term is defined in Rule 501(a) promulgated under the Securities Act.
S-3 Registration Statement
In connection with the offering, we agreed to file a registration statement by July 31, 2009 with the Securities and Exchange Commission on Form S-3 covering the resale of all of the Warrant Shares sold in the offering.
Item 7.01 Regulation FD Disclosure.
On January 30, 2009, we issued a press release announcing the Final Closing. A copy of the press release containing such announcement is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press release, dated January 30, 2009, announcing the Final Closing (furnished pursuant to Item 7.01).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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AMDL, Inc.
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January 30, 2009
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By:
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Akio Ariura
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Name: Akio Ariura
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Title: Chief Financial Officer
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Exhibit Index
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Exhibit No.
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Description
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99.1
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Press Release dated January 30, 2009 Re Final Closing
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