Converted Organics Announces Financing Transaction Providing the Company With $3.75M

Converted Organics Inc. COIN announced today that it has closed on a financing transaction with select institutional investors wherein it has agreed to sell convertible notes and warrants, the sale of which provides the Company with an immediate $3.75 million in cash before expenses, and potentially an additional $1.0 million upon meeting certain conditions of the transaction, including holding a Special Meeting of Stockholders by February 28, 2011.