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Financings in Brief: Rockwell Medical Technologies

This article was originally published in The Gray Sheet

Executive Summary

Rockwell Medical Technologies: Nets approximately $6 mil. in initial public offering Jan. 30. The offering consisted of 1.8 mil. shares of common stock at $4 each and 2.7 mil. common stock share purchase warrants at 10 cents per warrant (with an exercise price of $4.50 per share). The Wixom, Michigan-based hemodialysis concentrate and dialysis kit maker had initially planed an IPO of 1.5 mil. units at $4.20 each, with each unit consisting of one common stock share and two common stock share purchase warrants ("The Gray Sheet" Aug. 18, 1997, p. 7). Proceeds are tabbed for purchase of equipment to increase manufacturing capacity, redemption of preferred stock and working capital. Mason Hill & Co. was underwriter for the offering...
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