Cardiac Pathways
This article was originally published in The Gray Sheet
Executive Summary
Stockholders approve a proposed $32 mil. convertible preferred stock financing, led by BankAmerica Ventures and Morgan Stanley Venture Partners. The offering consists of about 32,000 shares of Series B preferred stock at $1,000 each. Among other measures adopted by shareholders at a July 20 meeting is a one-for-five reverse common stock split. The Sunnyvale, California firm anticipates that the financing will close "as soon as practicable" subject to certain closing conditions