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

TUSTIN, Calif., Jan. 30 /PRNewswire-FirstCall/ --( 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 services in the final closing of the offering.

Mr. Douglas MacLellan, President and CEO of AMDL, Inc., said "This financing strengthens our cash position as we launch our new sales initiatives during first quarter 2009. We are continually looking at other opportunities to strengthen AMDL's working capital reserves for 2009."

This press release does not constitute an offer or solicitation to sell or purchase any of the Company's securities. Any of the Company's securities offered will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act upon applicable exemptions from registration under the Securities Act.

About AMDL:

Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated bio-pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The Company employs approximately 500 people in the U.S. and China.

Forward Looking Statements:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The statements contained in this document include certain predictions and projections that may be considered forward- looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of our China-based subsidiaries, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to AMDL Inc., except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

    AMDL Contact:
    Kristine Szarkowitz
    Director-Investor Relations
    (Tel :) 206. 310.5323

Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. AMDL, Inc. Chairman & CEO Announces Expert Opinion on Chinas Economic Forecast
2. AMDL, Inc. Completes Revision of Performance & Equity Incentive Compensation Plan
3. Rudd Report Gives AMDL, Inc. a Strong Buy Recommendation in Year-End Financial Research Report
4. AMDL, Inc. Selected as #1 Small-Cap Stock Pick for 2009
5. Metoprolol Succinate Recalled: Brand Name Drug Scarce But Still Available at Low Cost from Other Countries, Announces
6. Smith & Nephew Announces Agreement with the OREF Regarding Grants to Support Research and Education in Orthopaedics
7. Meijer Announces Voluntary Recall for Some Meijer Brand Peanuts and Ice Cream Novelties Citing Possible Health Risk
8. Medco Announces Date for Fourth-Quarter and Full-Year 2008 Financial Results
9. Lilly Announces Senior Leadership Change
10. IDEXX Laboratories Announces Fourth Quarter and Full Year Results
11. QLT announces final results of tender offer
Post Your Comments:
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ... , "Film editors can give their videos a whole new perspective by using the ... CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different presets ...
(Date:6/25/2016)... ... 25, 2016 , ... Experts from the American Institutes for ... Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR ... care planning, healthcare costs and patient and family engagement. , AIR researchers will ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... First ... United States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell ... facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive ...
(Date:6/25/2016)... Montreal, Canada (PRWEB) , ... June 25, 2016 , ... ... the pursuit of success. In terms of the latter, setting the bar too high ... low, risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was ... his family verbally and physically. , “When something upset him, he couldn’t control his emotions,” ... He would throw rocks at my other children and say he was going to kill ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Roche (SIX: RO, ROG; OTCQX: RHHBY) announced ... BRAHMS PCT (procalcitonin) assay as a dedicated testing solution ... this clearance, Roche is the first IVD company in ... sepsis risk assessment and management. PCT is ... levels in blood can aid clinicians in assessing the ...
(Date:6/23/2016)... , , , WHEN: , , ... , , , LOCATION: , , , Online, with free registration ... PANELISTS:  , , , Frost & Sullivan,s Global Vice President of ... Analyst, Divyaa Ravishankar and Unmesh Lal, Program Manager , ... witnessing an exceptional era. Several new demand spaces, such as innovative ...
(Date:6/23/2016)... 23, 2016 The vast majority of dialysis ... facility.  Treatments are usually 3 times a week, with ... including travel time, equipment preparation and wait time.  This ... grueling for patients who are elderly and frail.  Many ... and rehabilitation centers for some duration of time. ...
Breaking Medicine Technology: