Inova Labs completes $10 million Series A Preferred Stock financing
Inova Labs, Inc. of Austin, Texas announced today the closing of the private placement of shares of its Series A Preferred Stock. The placement went to investment funds affiliated with Three Arch Partners, based in Silicon Valley, California. Inova received gross proceeds of $10.0 million from the equity financing, which will be used for nationwide and international sales expansion of its LifeChoice® portable oxygen concentrator product line, continuation of next stage developments, and working capital.
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