Kips Bay Medical intends to price public offering of its common stock

Financing sells 15 million shares to fund clinical trials of eSVS Mesh

By Devika Patel

Knoxville, Tenn., Nov. 30 - Kips Bay Medical, Inc. will price a public offering of its common stock, according to a Form S-1 filed Friday with the Securities and Exchange Commission. Sunrise Securities Corp., the underwriter, has a 45-day greenshoe.

The company will sell 15 million common shares.

Proceeds will be used to seek regulatory approval to market the company's eSVS Mesh in the United States and abroad, including human clinical trials; for developing and testing additional applications of the eSVS Mesh; and for working capital and general corporate purposes.

The medical device company is based in Minneapolis.

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