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Thoratec Laboratories

This article was originally published in The Gray Sheet

Executive Summary

Secondary offering net proceeds increase to $15.5 mil. following the exercise of a 300,000-share overallotment option, including 75,000 shares from a selling shareholder. All together, the deal included 2.3 mil. shares at $10 each, 1.7 mil. shares offered by the company and 575,000 offered by selling shareholders. Lehman Brothers, Bear Stearns, and Adams Harkness & Hill were managers. Thoratec plans to commence patient enrollment within the next three months for the U.S. Alternative Graft Investigational Study (AEGIS) trial of its Aria coronary artery bypass graft. FDA approval of an investigational device exemption was announced May 11

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