Mercator MedSystems, Inc. announced that it will issue 3,899,851 series D preferred shares at $3.8463 per share for gross proceeds of $14,999,996.9013 on May 2, 2018. The preferred shares will be convertible in common shares at a price of $3.8463 per share. The preferred shares will be entitled to receive non-cumulative participating dividend at rate of $0.2308 per annum. The shares are non-redeemable. The company will raise $14,908,711 pursuant to exemption provided under Regulation D. The transaction will be raised at post money valuation of $89,528,556. The transaction will include participation from NORTAI International Ltd to subscribe 1,039,960 shares. The investor will also issue the pre-emptive right to subscribe for an additional 1,039,960 preferred shares for aggregate total of 2,079,920 shares for gross proceeds of $7,999,996 for 9.08% stake of the company. Post the closing the investor will hold 5.07% stake in the company upon conversion of preferred shares. The transaction was approved by the board of directors of the investor’s parent company at the 11th meeting of the 4th directorate. The transaction is expected to close 10 days after signing of the relevant agreement.