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news.Certified Diabetic Services or CDS, a direct-to-consumer mail-order distributor of diabetic supplies and pharmaceutical services has closed a $4 million private placement.
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The funds were used to acquire Diabetic Plus – a diabetic supply mail-order distributor based in Sunrise, Florida – and to provide working capital for growth. The $4 million was structured as preferred shares which are convertible into common shares and the investor also received warrants in the deal. Midtown Partners & Co., acted as sole placement agent in this transaction.