Sparta Surgical
This article was originally published in The Gray Sheet
Executive Summary
Files registration statement with the Securities and Exchange Commission for a proposed $7.5 mil. secondary offering consisting of 750,000 units at $10 per unit. Net proceeds would be used for debt payments, equipment purchases, R&D, marketing expenses and working capital. The units would consist of one share of Series A convertible preferred stock and a still undetermined number of common stock purchase warrants. The conversion price of the preferred stock and warrant exercise price also have not been established. Paulson Investment Co. is managing underwriter