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Medovex raising $6M via offering of units

Alpharetta, Ga.-based medical device company MedoveX Corp. is raising up to $6 million through an offering of units worth $50,000 apiece.

Each unit includes a 12% note, due one year from Jan. 8, and convertible into the company's common shares at a price of 40 cents, subject to adjustment. Medovex also offers, as part of the unit, warrants to buy common shares for 75 cents each.

The company said it already raised $2 million through the offer, which is expected to close Feb. 28. Medovex said $200,000 of the amount was raised through debt cancellation — a promissory note owed to former Medovex chairman Steve Gorlin converted into four $50,000 units. The company said it expects additional near-term board appointments for the buyers involved — all previously invested with Medovex — to further formalize their roles with the company.

Medovex said the offering follows its acquisition of Regenerative Medicine Solutions LLC, a Tampa, Fla.-based biomedical services company that operates the Lung Health Institute.