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Financings in Brief: Endocardial Solutions, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Endocardial Solutions, Inc.: Nets approximately $25.5 mil. from initial public offering of 3 mil. shares at $9 each. The offering price was slightly lower than the $10-12 per share anticipated in a preliminary prospectus for the offering ("The Gray Sheet" Feb. 10, p. 14). Of the 3 mil. common stock shares offered by the St. Paul, Minnesota electrophysiology firm, Medtronic acquired 750,000 shares -- bringing its ownership position in ESI to 19.7% from 17.0%. Underwriters Piper Jaffray and Volpe, Welty & Company hold an over-allotment option for 450,000 additional shares...
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