Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Rubicon Medical: Boston Scientific buys $15 mil. of Rubicon Medical Series A Preferred Stock convertible into 10.9 mil. shares, bringing the firm's stake up to 18%. Boston Scientific says it will tender an offer for all outstanding shares of Rubicon if it acts on an option to buy the stock of the company's two largest shareholders, CEO Richard Linder and Chairman David Berger, who combined own just under 50%. The option will close 90 days after U.S. regulatory approval of the Rubicon Filter embolic protection system, which has yet to commence U.S. clinicals. European pivotal trials for heart and carotid artery indications are expected to complete in early 2004. Rubicon may wait until after CE mark approval to pursue U.S. indications, which likely will begin with saphenous vein grafts (1"The Gray Sheet" July 28, 2003, p. 6)...