NEW YORK--Manhattan Scientifics Inc. announced today that equity capital to retire $2.0M of the $2.5M debt was raised by Manhattan Scientifics' subsidiary, Imagion Biosystems. The remaining $500,000 debt, currently guaranteed to the lender by Manhattan Scientifics, is scheduled to convert into Imagion Biosystems equity concurrent with its planned IPO this Spring/Summer.
Details to follow.
Manhattan Scientifics Inc. (www.mhtx.com) is focused on commercialization of disruptive technologies in the nano medicine space.
This press release contains forward-looking statements, which are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Management at Manhattan Scientifics believes that purchase of its shares should be considered to be at the high end of the risk spectrum. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.