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Financings in Brief: Cambridge Heart

This article was originally published in The Gray Sheet

Executive Summary

Cambridge Heart: Developer of the CH 2000 system files a registration statement with the Securities and Exchange Commission for an initial public offering of 3 mil. shares, expected to be priced between $11 and $13 per share. The company plans to offer 2.4 mil. shares in the U.S. and 600,000 shares in a concurrent international offering. Underwriters Goldman Sachs and Bear Stearns have an over-allotment option to purchase 450,000 additional shares. Proceeds from the offering will fund research and development, clinical trials, purchase of capital equipment, expansion of sales and marketing efforts, working capital and general corporate purposes, the company says.
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