Cardo Medical, Inc. (OTC Bulletin Board: CDOM), an orthopedic medical device company based in Beverly Hills, California, announced today that it has completed the previously disclosed private placement transaction in which it successfully raised approximately $6.2 million in gross proceeds through the sale of common stock.
Cardo Medical, Inc. intends to use the proceeds for working capital, general corporate purposes and research and development, including the integration of its recent acquisitions and the release of its total knee system.
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