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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

World Heart: Gross proceeds of $12.8 mil. from two private placements, announced Dec. 5, will be used to support ongoing clinical trials of the Ottawa, Ontario firm's Novacor left ventricular assist system for use as an alternative to transplant (1"The Gray Sheet" Nov. 19, 2001, p. 16). The funds also will support pre-clinical and clinical studies of the HeartSaver VAD for the same indication, for which an IDE submission is expected in late 2002. The financing includes the private placement of 3 mil. special warrants at $3.50 each, and the separate sale of shares in an R&D unit at $3.50 per share. The transactions are expected to close on Dec. 17...

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Financings In Brief

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