Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
HeartWare secondary offering grosses $62.8 million: Ventricular assist device developer grosses $62.8 million from a secondary offering of 1.77 million shares of common stock at $35.50 per share, completed Feb. 2. HeartWare International plans to use the proceeds for "general corporate and working capital purposes," the company states. The firm's HeartWare miniature ventricular assist system with HVAD pump is being assessed in a 150-patient U.S. trial for use as a bridge to transplant, and the company expects to begin a pivotal study in mid-2010 for use as an alternative to transplant (1"The Gray Sheet" Dec. 7, 2009). The underwriters for the stock offering included JP Morgan Securities, Canaccord Adams, Lazard Capital Markets and Wedbush PacGrow Life Sciences