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Financings in Brief: Diametrics Medical

This article was originally published in The Gray Sheet

Executive Summary

Diametrics Medical: Blood chemistry testing system manufacturer nets $29.3 mil. in a public offering of 3 mil. shares of its common stock for $10.50 per share. The St. Paul, Minnesota-based firm filed a registration statement for the offering in July ("The Gray Sheet" July 17, p. 31). The funds are tabbed for expanding sales and marketing, boosting manufacturing facilities, research and development of new blood analysis tests for the firm's IRMA system, as well as "general corporate purposes." UBS Securities, Vector Securities International, and Dain Bosworth have 30 days to exercise their 450,000 share over-allotment option, Diametrics says...

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