Life Medical Sciences, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Completes offering of 500,000 units at $16.78 apiece ('The Gray Sheet" July 19, p. 23). Each unit consisted of two shares of common and one redeemable Class A warrant. Ninety percent of the offering, which grossed $8.4 mil., was sold to institutional and corporate vendors. Proceeds will be used for marketing of the firm's Sure-Closure skin stretching system, which the firm began shipping in November, and to fund trials of a wound dressing product.