has issued Series A Preferred Stock to an investor group led by
PDN is a provider of Internet- based fraud and compliance monitoring software.
Physicians Data Network is a provider of web-enabled proprietary information management software and services designed to enable healthcare providers and payors to effectively monitor fraud and abuse regulatory compliance and measure productivity.
PDN was in its very early stages of growth, with a finished product, several hundred customers and modest revenue. The Company needed capital to build out its infrastructure and fund sales and marketing efforts. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties and to analyze, structure and negotiate a transaction that would raise the necessary capital.
Croft & Bender successfully raised capital for the Company, with Monarch Capital Partners acting as the lead investor.