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Eclipse Surgical Technologies

This article was originally published in The Gray Sheet

Executive Summary

Sunnyvale, California-based manufacturer of cardiovascular and surgical laser products anticipates net proceeds of $6.7 mil. from an offering of 1.7 mil. units at a price of $5 per unit, according to a registration statement filed with the Securities and Exchange Commission. The units are comprised of one share of common stock and one class A warrant. The offering is underwritten by Westfield Financial. Eclipse projects that it will use proceeds to fund repayment of notes payable and bridge notes (about $1.9 mil. combined), as well as for the marketing of approved products ($900,000) and the development and expansion of product lines in the cardiovascular, orthopedic, urology, endo-sinus surgery, and spinal surgery markets.

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