By Sheri Kasprzak
New York, July 6 - Endologix, Inc. said it has received definitive agreements for a $16.6 million private placement.
The company will issue 4.15 million shares at $4 each to existing and new accredited investors.
The offering is expected to close within the next few days.
The proceeds will be used to launch the company's Powerlink System, a technology used to treat abdominal aortic aneurysms.
Based in Irvine, Calif., Endologix develops minimally invasive treatments for vascular diseases.
| Issuer: | Endologix, Inc.
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| Issue: | Stock
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| Amount: | $16.6 million
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| Shares: | 4.15 million
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| Price: | $4
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| Warrants: | No
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| Announcement date: | July 6
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| Stock price: | $4.55 at close July 6
|
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