Angiotech Pharmaceuticals, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Developer of medical device coatings and treatments for chronic inflammatory diseases plans a secondary offering of 1.75 mil. common shares. The Vancouver, British Columbia firm has filed a preliminary short form prospectus with SEC under the multi-jurisdictional disclosure system for the proposed offering, which will take place in the U.S. and certain Canadian provinces. Angiotech stock, which commenced trading on the Nasdaq exchange Feb. 17 (1"The Gray Sheet" Feb. 21, p. 21), also continues to trade on the Toronto exchange. The offering will be jointly lead-managed by Deutsche Banc Alex Brown and Merrill Lynch, with U.S. Bancorp Piper Jaffray as co-manager. In Canada, Loewen, Ondaatje, McCutcheon Limited and Yorkton Securities will also act as members of the underwriting syndicate. Underwriters will have an overallotment option to purchase up to an additional 262,500 shares