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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Abiomed raises $41 million: Cardiac assist device maker nets $41.7 million from a stock offering of 2.4 million common shares at $17.38 each, completed Aug. 22. The proceeds will go toward expanded distribution capability, R&D, clinical trials and "general corporate purposes," the firm says. On July 30, the Danvers, Mass. company announced plans to expand manufacturing capacity in Ireland for its Impella 2.5 percutaneously implanted cardiac assist device, which received 510(k) clearance June 2 for partial circulatory support for up to six hours (1"The Gray Sheet" June 9, 2008, p. 20). Morgan Stanley was underwriter for the stock offering
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