Cardima
This article was originally published in The Gray Sheet
Executive Summary
Second tranche of a $15 mil. private placement is complete. The sale of approximately 1.7 mil. shares at $2 each follows the Jan. 21 placement of about 5.8 mil. shares at the same price. The proceeds, in conjunction with a 30% company-wide reduction in workforce, will facilitate the continuing European roll-out of the Revelation and Revelation Tx microcatheters for therapeutic treatment of atrial fibrillation. An ongoing U.S. AF trial also will be expanded