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Financings in Brief: InnerDyne

This article was originally published in The Gray Sheet

Executive Summary

InnerDyne: Sunnyvale, California-based minimally invasive surgery access device manufacturer grosses approximately $3.2 mil. through the private placement of about 1.4 mil. shares of its common stock and warrants to buy 287,000 additional common shares. Lead investors in the placement are J.F. Shea Co., funds affiliated with Pathfinder Ventures, and funds affiliated with Burr, Egan, Deleage & Co., InnerDyne says. The warrants in the offering are redeemable until Dec. 4, 1995 for $3.13 per share. The company says it will use the proceeds for working capital and general corporate purposes. InnerDyne recently lost a funding source when CooperSurgical announced plans to terminate its agreement, reached last summer ("The Gray Sheet" Aug. 29, 1994, In Brief), to fund development of InnerDyne's thermal ablation technology for gynecological applications...
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