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Financings in Brief: Aksys, Ltd

This article was originally published in The Gray Sheet

Executive Summary

Aksys, Ltd: Adopts shareholder rights plan intended to protect shareholders in the event of of a takeover attempt. Under the plan, shareholders of record on Nov. 8 receive one preferred share purchase right for every common stock share held. The rights become exercisable "if a person acquires, or announces a tender offer for, 15% or more of the company's common stock," Aksys says. The development stage hemodialysis product firm netted $52.2 mil. from its May 16 initial public offering of 3.6 mil. shares at $16 each ("The Gray Sheet" June 3, p. 12)...
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