Abiomed
This article was originally published in The Gray Sheet
Executive Summary
Proposed secondary offering of 1.5 mil. shares is outlined in a filing with the Securities and Exchange Commission. Proceeds would be used for initial clinical trials of the AbioCor implantable replacement heart, continued R&D, expanded manufacturing capabilities, international sales and other general corporate purposes, "including potential acquisitions," the firm says. Underwriters Banc of America Securities and Salomon Smith Barney have an over-allotment option of 225,000 additional shares. Separately, the Danvers, Massachusetts company announces FDA approval of a PMA supplement for an additional, smaller-sized arterial cannula for use with the firm's BVS-5000 bi-ventricular assist device. The temporary heart assist device is used in over 435 U.S. medical centers nationwide