By Sheri Kasprzak
New York, Dec. 13 - Sunshine Heart Inc. said it has completed a private placement of stock for A$3,295,500.
The company issued 16.9 million Chess Depository Interests at A$0.195 each to institutional and sophisticated investors.
Intersuisse Corporate Pty. Ltd. was the placement agent.
Proceeds will be used to increase the rate of recruitment of patients for a long-term clinical trial.
Based in St. Leonards, New South Wales, Australia, Sunshine Heart is a medical device company focused on products to assist patients with long-term heart failure.
| Issuer: | Sunshine Heart Inc.
|
| Issue: | Chess Depository Interests
|
| Amount: | A$3,295,500
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| CDIs: | 16.9 million
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| Price: | A$0.195
|
| Warrants: | No
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| Placement agent: | Intersuisse Corporate Pty. Ltd.
|
| Settlement date: | Dec. 13
|
| Stock price: | A$0.20 at close Dec. 13
|
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