By Sheri Kasprzak
New York, June 25 - ATS Medical, Inc. secured $16.17 million from a private placement of stock.
The company intends to sell 9.8 million shares at $1.65 each to Alta Partners VIII, LP.
The investor also received, for an additional $0.125 each, warrants for 1.6 million shares.
The warrants are exercisable at $1.65 each for seven years.
The deal is expected to wrap up on June 27.
Located in Minneapolis, ATS is a medical device company focused on products used in cardiac surgery.
| Issuer: | ATS Medical, Inc.
|
| Issue: | Stock
|
| Amount: | $16.17 million
|
| Shares: | 9.8 million
|
| Price: | $1.65
|
| Warrants: | For 1.6 million shares, at $0.125 each
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $1.65
|
| Investor: | Alta Partners VIII, LP
|
| Announcement date: | June 25
|
| Settlement date: | June 27
|
| Stock symbol: | Nasdaq: ATSI
|
| Stock price: | $1.83 at close June 25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
