By Sheri Kasprzak
New York, June 19 - MicroMed Cardiovascular, Inc. settled a $15,425,000 private placement.
Absolute Return Europe Fund, Absolute East West Fund, Absolute Octane Fund and Absolute Large Cap Fund bought 9,951,613 shares at $1.55 each.
The investors received warrants for 3,317,204 shares, exercisable at $3.00 each for three years.
Proceeds will be used for clinical studies and research associated with the expansion of the company's DeBakey VAD and for general corporate purposes.
Hunter World Markets, Inc. and CIC Global Capital Ltd. were the placement agents.
MicroMed, based in Houston, develops heart pumps.
| Issuer: | MicroMed Cardiovascular, Inc.
|
| Issue: | Stock
|
| Amount: | $15,425,000
|
| Shares: | 9,951,613
|
| Price: | $1.55
|
| Warrants: | For 3,317,204 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.00
|
| Placement agent: | Hunter World Markets, Inc. and CIC Global Capital Ltd.
|
| Settlement date: | June 13
|
| Stock symbol: | OTCBB: MMCV
|
| Stock price: | $3.00 at close June 13
|
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