Financings in Brief: ThermoGenesis
This article was originally published in The Gray Sheet
Executive Summary
ThermoGenesis: Private placement of about 1.6 mil. shares of common stock at $2.50 per share to a syndicate led by Biotechnology Development Fund and Chartwell Investment Partners nets approximately $3.8 mil. The Rancho Cordova, California company also issues three-year warrants representing the right to acquire an additional 163,900 shares of common stock at an exercise price of $3 per share. Proceeds will be used for "immediate short term capital needs" including preparation for marketing of the firm's CryoSeal system for harvesting adhesive and clotting proteins from blood plasma for wound-healing and therapeutic applications (510(k) pending), and the BioArchive placental/cord blood stem and progenitor cell transplant archiving system (first quarter 1998 510(k) submission). Gruntal & Co. and Oscar Gruss & Son were placement agents for the offering...
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