MicroMed Cardiovascular settles private placement of stock for $5.15 million

By Sheri Kasprzak

New York, Dec. 2 - MicroMed Cardiovascular, Inc. has completed a private placement for $5.15 million, the company said.

The shares were sold through agent Hunter World Markets, Inc.

The full details of the offering could not be determined Friday.

Proceeds will be used for clinical studies and research. The rest will be used for general corporate purposes.

Based in Houston, MicroMed is a medical device company focused on products to treat cardiovascular disorders.

On Friday, the company's stock remained unchanged at $2.50.

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