Angeion Corporation
This article was originally published in The Gray Sheet
Executive Summary
Raises approximately $11.6 mil. in gross proceeds through its direct placement "principally to selected investors" of 4.9 mil. securities. The securities consist of 4.9 mil. shares of common stock and 4.9 mil. 18-month warrants. If the warrants are exercised, Angeion will raise additional gross proceeds of $11.6 mil. Net proceeds will be used to fund company research and development, purchase equipment, and to repay short-term bridge loans, the firm says. Plymouth, Minnesota-based Angeion is developing the Sentinel 2000 new-generation implantable cardioverter defibrillator and catheter ablation systems