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World Heart

This article was originally published in The Gray Sheet

Executive Summary

Grosses about $14.2 mil. in private placement of 2.1 mil. special warrants at $6.80 each through agents Midland Walwyn Capital and ScotiaMcleod. The warrants are exercisable for 2.1 mil. shares of common stock "without additional consideration," the firm states. Net proceeds will be used for initial production, clinical trials and commercialization of the Ottawa, Ontario firm's HeartSaver fully implantable ventricular assist device ("The Gray Sheet" Dec. 23, 1996, I&W-10). Funds from the offering are anticipated to be "sufficient to conduct the business of the company, including clinical trials in Canada, through the year 2000," World Heart states...



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