By Sheri Kasprzak
New York, Feb. 22 - Medwave, Inc. said it has completed a private placement for $4.43 million.
The company sold 1,616,788 shares at $2.74 each to a group of institutional investors led by H&Q Healthcare Investors and including Nite Capital and Paragon Capital.
The investors will receive warrants for up to 404,403 shares, exercisable at $3.29 each for five years.
Canaccord Adams Inc. was the placement agent.
Based in Danvers, Mass., Medwave develops sensor-based noninvasive blood pressure products.
| Issuer: | Medwave, Inc.
|
| Issue: | Stock
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| Amount: | $4.43 million
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| Shares: | 1,616,788
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| Price: | $2.74
|
| Warrants: | For 404,403 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $3.29
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| Placement agent: | Canaccord Adams Inc.
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| Investors: | H&Q Healthcare Investors (lead), Nite Capital, Paragon Capital
|
| Settlement date: | Feb. 22
|
| Stock symbol: | Nasdaq: MDWV
|
| Stock price: | $3.05 at close Feb. 22
|
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