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Financings in Brief: Diametrics Medical

This article was originally published in The Gray Sheet

Executive Summary

Diametrics Medical: Raises $9.6 mil. in a private placement of 1.7 mil. shares of common stock for $5.50 per share. The shares will not be registered for a period of at least 180 days from the deal's closing. The $5.50 price is a 12% discount from the average closing price of the company's common for the 20 days before Jan. 26. St. Paul, Minnesota-based Diametrics says it will use the proceeds to expand its sales and marketing efforts, adding approximately ten direct U.S. sales reps by the end of 1995 to its current direct force of about 20. The company also plans to expand manufacturing capabilities by adding employees and automated equipment...
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