$20M Investment Saves Drkoop, For Now
Prime Ventures, JF Shea Ventures, Cramer-Rosenthal-McGlynn and RMC Capital ponied up the $20 million. Drkoop said Monday in a filing with the Securities and Exchange Commission that it had nearly run out of the $2 million in cash that the company received in June.
The new investors received preferred stock in Drkoop.
The SEC filing also disclosed that it is investigating Drkoop for allegedly misleading investors about its financial prospects.