By Sheri Kasprzak
New York, Aug. 31 - Acusphere, Inc. entered into a $19,536,454 equity line with Azimuth Opportunity Ltd.
The investor may buy up to 5,762,966 common shares at a discount to the company's market price over 18 months. Based upon the $3.39 closing stock price on Aug. 31, the line is for up to $19,536,454.
The exact discount terms of the offering could not be determined Thursday.
Based in Watertown, Mass., Acusphere develops treatments for asthma, cancer and heart disease.
| Issuer: | Acusphere, Inc.
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| Issue: | Equity line
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| Amount: | $19,536,454
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| Tenor: | 18 months
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| Warrants: | No
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| Investor: | Azimuth Opportunity Ltd.
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| Settlement date: | Aug. 31
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| Stock symbol: | Nasdaq: ACUS
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| Stock price: | $3.39 at close Aug. 31
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