Life Medical Sciences
This article was originally published in The Gray Sheet
Files registration statement with the Securities and Exchange Commission for a proposed secondary offering of up to 500,000 units at $16.78 each. The units consist of two shares of common stock and one Class A warrant. Each Class A warrant, with an exercise price of $9, entitles the holder to one share of common stock and one Class B warrant (with an exercise price of $13.50 for one share). Proceeds would be used for "expenditures relating to the commercialization" of the development stage firm's Skin- Stretching device for wound closure, for which a 510(k) was filed in Dec. 1992; R&D; clinical trials of wound dressing gel technology; "working capital"; and debt repayment. The units will be offered through broker-dealers. The Princeton, New Jersey firm netted $5.4 mil. from an initial public offering completed in October 1992....
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