DENVER, Dec. 9 /PRNewswire-FirstCall/ -- Global Med Technologies(R), Inc. ("Global Med" or the "Company") (OTC Bulletin Board: GLOB), an international e-Health, medical information technology company, today announced that on Tuesday, December 9, 2008, its board of directors received a letter from Victory Park Capital Advisors, LLC ("VPC") whereby VPC proposed to acquire a majority share in, or full ownership of, Global Med. The proposal received is as follows:
December 9, 2008 Global Med Technologies, Inc. 12600 West Colfax Suite C-420 Lakewood, CO 80215 To the Board of Directors (the "Board"):
Victory Park Capital Advisors, LLC ("VPC" or "we") has been an investor in Global Med Technologies, Inc. ("GLOB" or the "Company") since September 2007. In addition, certain principals of VPC have been involved with investments in GLOB since December 2005 while managing investments for a previous fund. VPC currently owns the following GLOB securities: (i) 5,500 preferred equity securities convertible into 5,500,000 shares of common equity at a conversion price of $0.72 per share; (ii) 4,125,000 warrants exercisable into 4,125,000 shares of common equity at a strike price of $0.72 per share; and (iii) 4,876,765 shares of common equity which were accumulated primarily through open market purchases. Currently, on an as-converted, fully-diluted basis we own approximately 29% of the economic interests in the Company.
Since first undertaking our investment in GLOB, we have continued to be actively and constructively involved in the Company's success. Over the last three years, the principals of VPC have completed, amongst other initiatives, the following:
1. waived various rights under our preferred equity security in order to facilitate numerous operational and strategic initiatives; 2. offered $9,000,000 in debt financings to facilitate two st
|SOURCE Global Med Technologies, Inc.|
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