NEWS OUT VERY POSITIVE.
CompuMed Announces Conversion of Series D Preferred Stock
LOS ANGELES, CA (January 8, 2021) -
CompuMed, Inc. (OTCPink:
CMPD), a leader in providing diagnosticm telemedicine, announced today that it has received notification from
VI Capital Fund, LP to convert the Series D Preferred shares held by VI Capital Fund, LP
into common shares according to the terms of the Series D Preferred Stock Agreement.
The Series D Preferred shares (4,167) held by VI Capital Fund, LP will therefore convert into 8,334,000 shares of CompuMed common stock.
After this conversion CompuMed will have only one class of equity interest; common stock.
We believe investors value a simple equity capital structure, and that removing any potential conflicts between equity classes enhances the value of the common shares of the Company.
We are delighted that VI Capital Fund, LP partners
have made this decision and believe that over time this more perfect alignment of interests will add value for all owners of CompuMed.
David Pointer, the representative for the Managing Partner for VI Capital Fund, LP (and also serving as CompuMedâ??s Chairman of the Board) commented that:
â??In a vote of VI Capital Fund partners they overwhelmingly supported the idea
of this conversion.
At VI Capital we recognize that any reasonable estimate of CompuMedâ??s value far exceeds the value floor determined by the Series D Preferred Stock agreement.
We do not therefore believe that any value exists for the
extra-ordinary rights those shares once had.
Accordingly, we are pleased to move forward with our equity interest in
CompuMed represented by common shares.
We are confident that removing any confusion regarding CompuMedâ??s
capital structure will be a positive event for all shareholders in the long-run.â?
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