Financings in Brief: Cholestech
This article was originally published in The Gray Sheet
Executive Summary
Cholestech: Files for public offering of 3.45 mil. shares (including 450,000 to cover potential over-allotments) through underwriters managed by Vector Securities and Principal Financial Securities. The firm, manufacturer of the L-D-X point-of-care analyte diagnostic system for "blood detected diseases and disorders," says proceeds will support "research and development related to expansion of test menus," expansion of manufacturing capacity, repayment of debt, expansion of sales and marketing activities, working capital and other corporate purposes. Cholestech stock has traded recently in the $6 to $7 per share range...