This article was originally published in The Gray Sheet
Proposes secondary offering of 1.5 mil. shares in a preliminary prospectus filed with the Securities and Exchange Commission. Of the $6.3 mil. in anticipated net proceeds, $2 mil. would be used for R&D, $1 mil. for marketing and sales, $2 mil. for working capital and general corporate purposes, and $1.3 mil. for repayment of indebtedness. The development stage firm, based in The Woodlands, Texas, would have 6.1 mil. shares outstanding following the offering; Thomas James Associates and Renaissance Financial Securities Corp. are underwriting. The firm is currently developing the OmniCath atherectomy catheter and the Evert-O-Cath toposcopic catheter ("The Gray Sheet" Feb. 1, 1993)....
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