Published on 3/3/2009 in the Prospect News PIPE Daily.
New Issue: Cardima completes $20 million private placement of stock
By Devika Patel
Knoxville, Tenn., March 3 - Cardima, Inc. said it settled a $20 million private placement of stock with warrants.
The company sold 18,518,518 common shares at $1.08 each along with warrants for 5,555,555 shares. The warrants will be exercisable at $1.25 per share.
Cardima is a medical device company based in Fremont, Calif.
| Issuer: | Cardima, Inc.
|
| Issue: | Common stock
|
| Amount: | $20 million
|
| Shares: | 18,518,518
|
| Price: | $1.08
|
| Warrants: | For 5,555,555 warrants
|
| Warrant strike price: | $1.25
|
| Settlement date: | March 3
|
| Stock symbol: | OTCBB: CADM
|
| Stock price: | $1.15 at close March 2
|
| Market capitalization: | $144 million
|
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