SmallCAPS.us Highlights: Remedent, Inc. (REMI.OB), as Company Announces $7 Million Private Placement
Remedent, Inc. (REMI.OB) recently reported that it has sold 5.6 million shares of its common stock at a per share price of $1.25 in a private placement with institutional investors. In addition to the shares, the institutional investors will also receive warrants to purchase an additional 4.2 million shares of common stock at an exercise price of $1.55. Net proceeds to Remedent from the sale of the shares of common stock will be approximately $6.2 million. The net proceeds will be used for working capital and general corporate purposes and for setting up the United States marketing and distribution activities…