Fusion Medical
This article was originally published in The Gray Sheet
Executive Summary
Surgical sealant developer raises $8 mil. in a private equity placement with Alloy Ventures, the State of Wisconsin Investment Board, and the Asset Management Company. Proceeds will go toward commercialization of the firm's FloSeal and Proceed hemostatic sealants. Approximately 2.7 mil. shares were sold at $2.93 each, which is the average closing price of Fusion stock over the ten days preceding the April 9 completion of the financing. In addition, each investor received a warrant for the purchase of up to an additional 25% of the total shares purchased at $3.66 per share, or 125% of the purchase price