Boston, MA 03/06/2014 (wallstreetpr) – Dehaier Medical Systems Ltd (NASDAQ:DHRM) which is an emerging leader in the development marketing and sale of medical services in china has closed its offering of securities purchase agreement. Under the offering Dehaier Medical Systems was offering a total of 734, 700 of its common shares at a price tag of $9.12 per common share.
It is estimated the offering raised a total of $6.7 million with the company expected to receive $6.1 million in net proceeds after payment of all incurred expenses In addition, Dehaier Medical Systems offered warrants for the purchase of its 220,410 common shares of which it expects to receive net proceeds amounting to $2.6 million.
The net proceeds from the sale of its common shares will be used for bolstering the working capital as well as meeting other general corporate purposes. Dehaier Medical Systems will not use the proceeds from the offering to satisfy its existing debt obligation or redeeming any of the outstanding securities.
Dehaier Extends Distribution agreement with Timesco
Dehaier Medical Systems in other news has announced that it has come to an agreement with Timesco for the renewal of its exclusive distribution rights. Dehaier Medical Systems will thus have exclusive rights for the direct sale, distribution and bid of optiproducts in mainland China, the company will also have exclusive rights for CLX and Eclipse blades.
Dehaier Medical Systems Ltd (NASDAQ:DHRM) continues to maintain a sound partnership with Timesco as it strives to meet its goals and targets for the current fiscal year in terms of profitability; this is according to the company Chief Executive Officer Mr. Ping Chen. Dealers and consumers have consistently responded well to the company’s products of which the company’s Chief plan to build on, going forward.
Dehaier Medical Systems Ltd (NASDAQ:DHRM) was surging in Wednesday trading session going up by highs of 2.64% to close the day at highs of $10.51