Navigation Links
Medbox Executes $6 Million Equity Transaction with Private Investment Firm
Date:2/19/2013

HOLLYWOOD, Calif., Feb. 19, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announced that the company has executed a $6 million equity transaction with a private investment firm involving a restricted stock purchase directly from the company at market rate as of January 17, 2013 for $5 million and the remaining $1 million stock purchase at a discount to market. The shares issued are considered a long-term investment for the firm that specializes in funding up-and-coming companies. The investment firm has made an initial payment to Medbox and is scheduled to complete funding of the transaction by May 2013.  

The instant transaction, along with other opportunities currently being investigated by Medbox management, provides alternative acquisition funding sources in lieu of the company's founder selling affiliate shares into the market in order to fund expansion. To date, the company reports that the founder has not liquidated any shares into the public market. In addition, based on advice from counsel, affiliate shares cannot be sold publicly for 90 days after the company files its Form 10 with the SEC to become fully reporting. With the Form 10 on pace to being filed next month, the company has decided to seek out more traditional funding sources in lieu of founder funded expansion.

"Although we have an aggressive acquisition schedule for this year, the $6 million equity transaction, other viable transactions that have been presented to the company, and the company's earnings, will allow us the capital we need to go after any viable acquisitions as well as explore opportunities within our company to boost revenues in our existing market segments," stated Dr. Bruce Bedrick , CEO of Medbox.  

The company also announced that it is on pace to have its best financial performance quarter in company history in Q1 2013
'/>"/>

SOURCE Medbox, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2

Related biology news :

1. Medbox Partners with Bio-Tech Medical Software to Create Nations Safest Prescription Drug and Medical Marijuana Distribution System
2. Medbox, Inc. Comments on Record Trading Day
3. Medbox, Inc. Featured in Multiple Media Stories in Massachusetts and California
4. Medbox, Inc. Releases Demo Video and Collateral Media Concerning How Their Systems Will Be Used in Massachusetts Medical Marijuana Dispensaries
5. Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business News Channel
6. AVT Develops Biometrically Secure Medicine Storage and Retrieval System for Medbox RX
7. Medbox, Inc. Releases 2nd Quarter Financials
8. Medbox Safe Storage and Access Lockers Gaining Popularity
9. Medbox Developing a Patent Pending Wall-Mounted Biometric Kiosk for Storage of Sensitive Medicine Samples and Supplies for Doctors Offices.
10. Medbox, Inc. Announces Top-Tier Rating by Dun & Bradstreet Credibility Corporation
11. RayBiotech, Inc. Executes Neuroscience Biomarker Master Services Agreement with Banner Sun Health Research Institute
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/16/2014)... inherit certain traits from our parents that are pre-determined. ... play out by taking certain drugs or better yet, ... team of researchers at the Boston University School of ... research. , Epigenetics regulates gene expression in a ... which prevent permanent mutations or alterations within the gene ...
(Date:9/16/2014)... Each tree species has its own bacterial identity. That,s ... from other institutions who studied the genetic fingerprints of ... Panamanian island. , "This study demonstrates for the first ... with different ecological strategies possess very different microbial communities ... a former postdoctoral researcher in the UO,s Institute of ...
(Date:9/16/2014)... a 10-km diameter chunk of rock hit the Yukatan peninsula ... the force of 100 teratons of TNT. It left a ... wildfires, global earthquakes and volcanism are widely accepted to have ... of the mammals. But what happened to the plants on ... researchers from the University of Arizona reveals that the meteorite ...
Breaking Biology News(10 mins):Epigenetic drugs: A hope to treat cancer resistance and reduce cancer relapse? 2Epigenetic drugs: A hope to treat cancer resistance and reduce cancer relapse? 3Microbiome research shows each tree species has a unique bacterial identity 2Meteorite that doomed the dinosaurs helped the forests bloom 2Meteorite that doomed the dinosaurs helped the forests bloom 3
... a sudden halt, the carbon dioxide already in Earth,s atmosphere ... according to Princeton University-led research published in the journal ... take a lot less carbon than previously thought to reach ... an Earth on which, after 1,800 billion tons of carbon ...
... Think Greenland,s ice sheet is small today? It was ... history from 3-5,000 years ago, according to scientists who studied ... interpreting the Arctic fossil record. "What,s really interesting about this ... 5,000 years ago, maybe as late as 4,000 years ago. The ...
... Gregg, an assistant professor of mechanical engineering and bioengineering ... Computer Science this fall, is a recipient of a ... for research that will combine robot control theory and ... orthotic devices. "According to the American Society of ...
Cached Biology News:Even if emissions stop, carbon dioxide could warm Earth for centuries 2Even if emissions stop, carbon dioxide could warm Earth for centuries 3Greenland's shrunken ice sheet: We've been here before 2Greenland's shrunken ice sheet: We've been here before 3UT Dallas professor wins $2.3 million NIH award 2UT Dallas professor wins $2.3 million NIH award 3
(Date:9/16/2014)... Rice University scientists who created a deicing film for ... as a transparent coating for glass. , The ... colleagues could keep glass surfaces from windshields to skyscrapers ... to radio frequencies (RF). , The technology was ... Applied Materials and Interfaces . , The ...
(Date:9/16/2014)... Cardioxyl Pharmaceuticals, Inc. announced today ... to be effective in animal models following oral (capsule) ... infusions that could pave the way for convenient outpatient ... at the Heart Failure Society of America,s (HFSA) 18 ... Vegas . The research, conducted in ...
(Date:9/16/2014)... 2014 CIRTEC Medical Systems’ Board of ... CEO of CIRTEC. , “I am delighted to ... Company.” noted Brian Highley. “The company has made great ... organic growth over the past two years. The goal ... improve and expand the services Cirtec offers its medical ...
(Date:9/16/2014)... 16, 2014   Synthetic Biologics, Inc. ... anti-infective biologic and drug programs targeting specific pathogens ... completion of the Company,s Investor Day in ... irritable bowel syndrome (IBS) program, including its novel, ... In the keynote presentation, Mark Pimentel ...
Breaking Biology Technology:Nanoribbon film keeps glass ice-free 2Cardioxyl Presents Oral Heart Failure Treatment Data For Its Experimental HNO Prodrug At HFSA 18th Annual Scientific Meeting 2Synthetic Biologics' Statin-Class Candidate for Constipation-Predominant Irritable Bowel Syndrome Detailed at Company's Investor Day 2Synthetic Biologics' Statin-Class Candidate for Constipation-Predominant Irritable Bowel Syndrome Detailed at Company's Investor Day 3
... CHERRY HILL, N.J., Sept. 21 Nuvilex, Inc. (OTC Bulletin ... venture partner with Reme-Flu(TM), will be incorporating Syn-X9(TM) proprietary delivery ... remedy designed to help prevent and treat flu-type symptoms resulting ... , , The unique attributes ...
... Merrimack Pharmaceuticals, Inc., announced today that Clet Niyikiza, Ph.D., ... Niyikiza comes to Merrimack from GlaxoSmithKline (GSK) where he was ... Niyikiza has extensive drug development experience with a career ... which he has led ten New Drug Application teams that ...
... , , ROCKVILLE, Md., Sept. 21 ... the U.S. Food and Drug Administration (FDA) has approved its Investigational New ... Lateral Sclerosis (ALS or Lou Gehrig,s disease) with its spinal cord stem ... ) , , Neuralstem is the first ...
Cached Biology Technology:Nuvilex, Inc. Announced that Reme-Flu(TM) will Incorporate Proprietary Syn-X9(TM) Delivery Technology into its Product Formulation 2Nuvilex, Inc. Announced that Reme-Flu(TM) will Incorporate Proprietary Syn-X9(TM) Delivery Technology into its Product Formulation 3Merrimack Pharmaceuticals Names Clet Niyikiza, Ph.D. Senior Vice President, Development 2Neuralstem Receives FDA Approval to Commence First ALS Stem Cell Trial 2Neuralstem Receives FDA Approval to Commence First ALS Stem Cell Trial 3Neuralstem Receives FDA Approval to Commence First ALS Stem Cell Trial 4
Microlite 2+ Plate, round bottom; an irradiated, high binding surface with enhanced dynamic range, extra high reflectivity and minimal cross talk for low signal luminescent reactions....
... freezers offer a superior sample management ... samples with high capacities. Innovative insulation ... ensure excellent warming protection and ensure ... accessories simplify tracking of sample location ...
...
Verotoxin IIbeta (457)...
Biology Products: