Targeted Medical Pharma, Inc. (OTCPK:TRGM) announced that a private placement to issue unsecured promissory note to Shlomo Rechnitz for gross proceeds of $1,200,000 on February 23, 2015. The notes carry a fixed interest rate of 4% per annum and will mature on February 22, 2017. The principal and interest on the note will be payable in monthly installments of $52,109.91, beginning on March 22, 2015, and continuing until February 22, 2017.
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- Targeted Medical Pharma, Inc. announced that it expects to receive $1.2 million in funding.