ATI Medical Inc. Sells $4 Million of Debentures

ATI Medical Inc., a Glendale company that rents medical equipment to hospitals, said it sold $4 million of debt to private institutional investors.

The debt was in the form of subordinated debentures with an interest rate of 10.25% and convertible into ATI stock, ATI said. The company said it was not disclosing more specific terms of the debt.

ATI said it would use the cash from the sale to expand its business.