Brokered offering will be conducted by Lazard Capital, Wedbush PacGrow
By Devika Patel
Knoxville, Tenn., Oct. 14 - World Heart Corp. arranged a $25.3 million private placement of units on Oct. 13, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 11,850,118 units of one common share and one five-year warrant at $2.135 per unit.
The whole warrants are each exercisable at $2.31, which is equal to 115% of the closing consolidated bid price of the common stock on Oct. 13 and a 12.68% premium to the Oct. 13 closing share price of $2.05.
Lazard Capital Markets LLC and Wedbush PacGrow Life Sciences are the agents.
Salt Lake City-based World Heart is a developer of mechanical circulatory support systems.
| Issuer: | World Heart Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $25.3 million
|
| Units: | 11,850,118
|
| Price: | $2.135
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.31
|
| Agent: | Lazard Capital Markets LLC and Wedbush PacGrow Life Sciences
|
| Pricing date: | Oct. 13
|
| Stock symbol: | Nasdaq: WHRT
|
| Stock price: | $2.05 at close Oct. 13
|
| Market capitalization: | $29.9 million
|
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