Financings in Brief: Aksys, Ltd.
This article was originally published in The Gray Sheet
Executive Summary
Aksys, Ltd.: Commences initial offering of 3.6 mil. shares of common stock for $16 each. Proceeds will be used to gear up manufacturing and for commercialization of the firm's lead product, the PHD automated personal hemodialysis system, designed to enable patients to perform hemodialysis "on a daily basis in a self-care setting." Additional proceeds will go toward "working capital and other general corporate purposes," the firm states. Smith Barney, Piper Jaffray and Vector Securities International served as underwriters for the offering...