By Sheri Kasprzak
New York, May 24 - AtriCure, Inc. secured agreements for a $16.5 million private placement with a group of institutional investors.
The investors agreed to buy 1,789,649 shares. Of the shares, 1,683,060 were issued at $9.15 each and the remaining 106,589 were sold at $10.32 each to an affiliate.
The transaction is expected to close contingent upon certain conditions.
Proceeds will be used for research and development, potential acquisitions or other strategic initiatives, working capital and general corporate purposes.
Piper Jaffray & Co. was the placement agent.
Based in West Chester, Ohio, AtriCure is a medical device company focused on manufacturing surgical tools used in cardiothoracic surgery.
| Issuer: | AtriCure, Inc.
|
| Issue: | Stock
|
| Amount: | $16.5 million
|
| Shares: | 1,789,649
|
| Price: | $9.15 for 1,683,060 shares; $10.32 for 106,589 shares
|
| Warrants: | No
|
| Placement agent: | Piper Jaffray & Co.
|
| Announcement date: | May 24
|
| Stock symbol: | Nasdaq: ATRC
|
| Stock price: | $9.62 at close May 24
|
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