$1.06 million unregistered debt financing and first close reported by ABT Molecular Imaging


ABT Molecular ImagingABT Molecular Imaging disclosed being in the market to raise $1.06 million via debt issuance. Apparently 73% or $775,000 has already been subscribed by three investors. The non-brokered placement started a few days ago. Based on the offering’s structure, the company has until May 2015 to raise an extra $288,000. A total of eight unregistered securities offerings closed by the company raised an estimated $22.05 million.

The company designed a device to manufacture doses of molecular imaging drugs for positron emission tomography (PET scanning) at the point of use. PET scanners map the body by means of injectable radioactive drugs that allow PET machines to highlight areas of abnormal metabolic function indicative of disease (such as cancer, Alzheimer’s disease, cardiac abnormalities, etc.).  ABT’s Biomarker Generator enables rapid, safe and local production of PET imaging agents in a way that is more convenient, versatile and significantly less expensive than current methods available. It is currently deployed to several research and clinical sites with installations in the U.S., Europe and South America.

The company is headquartered in Louisville TN. Abt Molecular Imaging disclosed having revenues on or below $1 million.

The executive team includes Michael Templin and Peter Kingma.
The board of directors includes Dennis Dougherty and Rik Vandevenne.

The company has raised an estimated total of $22.82 million via private unregistered security offerings.

Offering recap
Status: First close
Company: ABT Molecular Imaging
Industry: Biotechnology
Amount offered: $1.06 million
Amount placed: $775,000
First sale: 05-09-2014
Data as of: 05-12-2014

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