By Sheri Kasprzak
New York, Dec. 22 - World Heart Corp. settled the $11.3 million final tranche of its previously announced private placement, bringing the total placement size to $14.1 million.
The company sold a total of 56.4 million shares at $0.25 apiece to a group of investors that included Maverick Ventures Management, LLC; Special Situations Fund; Medical Strategy; Greenway Capital; and members of the company's management.
The first tranche closed in November.
Proceeds from the deal will fund operations through the initiation of U.S. clinical trials for the company's products in 2007 and into the second quarter of 2008.
World Heart, based in Oakland, Calif., develops mechanical circulatory support systems.
| Issuer: | World Heart Corp.
|
| Issue: | Stock
|
| Amount: | $14.1 million
|
| Shares: | 56.4 million
|
| Price: | $0.25
|
| Warrants: | No
|
| Investors: | Maverick Ventures Management, LLC; Special Situations Fund; Medical Strategy; Greenway Capital; members of the company's management
|
| Settlement date: | Dec. 22
|
| Stock symbol: | Nasdaq: WHRT
|
| Stock price: | $0.365 at close Dec. 22
|
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