Compiled by John Charles Tighe, Times staff writer
Disease Detection International Inc. in Irvine said it has received $2.5 million from investors who bought shares of DDI stock by redeeming stock warrants. President H. Thad Morris said 98% of the company’s outstanding warrants have been redeemed.
Warrants are certificates that give holders the option to buy stock at a stated price. Morris said his company, which makes test kits to measure several diseases, plans to invest the proceeds from the stock sales in certificates of deposit and other short-term notes.