AMDL, Inc. Announces Final Closing of Private Placement of Se... ( TUSTIN Calif. Jan. 30 /-( In the f...)

AMDL, Inc. Announces Final Closing of Private Placement of Senior Notes

Date:1/30/2009

TUSTIN, Calif., Jan. 30 /PRNewswire-FirstCall/ --(www.amdl.com) AMDL, Inc. (NYSE Alternext US: ADL), a vertically integrated pharmaceutical company with major operations in China and the US, announced today the second and final closing of its offering of "units" consisting of 12% senior notes and warrants. The exclusive placement agent for the offering is Cantone Research, Inc.

In the first closing on December 8, 2008, AMDL sold $1,077,500 of 12% convertible notes at par value. In the second and final closing on January 30, 2009, AMDL sold $680,000 of 12% convertible notes; thus an aggregate of $1,757,500 of notes was sold in the offering. The notes mature at the earlier of 24 months from the date of issuance, or the earlier completion of a bank or credit facility of at least $8 million in one or more transactions. Warrants to purchase an aggregate of 544,000 shares of common stock were also included in the units sold in the second closing.

The warrants included in the units in the offering have a term of five years from the date of issuance and are exercisable at a price equal to $1.00 per share (first closing) and $1.13 (final closing). The terms of the offering provided that the exercise price of the warrants would be equal to the greater of $1.00 per share or 115% of the five day volume average weighted prices (VWAP) of the Company's common stock prior to each closing date.

In the second and final closing, Cantone Research, Inc., the placement agent received, cash commissions of $68,000, representing 10% of the principal amount of the notes purchased and $27,900 in non-accountable expenses, and five year warrants to purchase a total of 54,400 shares of common stock, of which warrants to purchase 7,480 shares were assigned to Galileo Asset Management, S.A. and warrants to purchase 2000 shares were assigned to Security Research Associates, Inc. for their
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AMDL, Inc. Announces Final Closing of Private Placement of Se...( TUSTIN Calif. Jan. 30 /-( In the f...),Health