Cedara lands funding from Toyo

Canadian medical imaging and PACS developer Cedara Software has completed a $701,000 (U.S.) private placement of convertible debentures to Japanese distribution partner Toyo. The convertible debentures, which bear a 5% annual interest and mature in five years, can be converted into common shares at a conversion price of $1.59 (U.S.) per share, according to the Mississauga, Ontario-based firm. Cedara said it would use the funding to strengthen its working capital position.

By AuntMinnie.com staff writers
May 15, 2002

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