This article was originally published in The Gray Sheet
Raises a total of $11.2 mil., including $9.2 mil. from Medtronic and $2 mil. from existing stockholders in a private placement. Medtronic purchases 5.3 mil. shares of common stock at $1.73 each under a Jan. 4 agreement, giving the firm an 18% interest in VidaMed. Current VidaMed shareholders purchase an additional 1.2 mil. shares under the same terms. The share purchases include warrants to acquire up to an additional 30% of the number of shares purchased at $1.80 per share
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