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Hansen raises $39m in share sale:

This article was originally published in Clinica

Executive Summary

Robotic catheter control company Hansen Medical is looking to receive approximately $39.4m through a stock offering of three million of its shares. The Mountain View, California-based company will offer the shares at a variable price - the company's estimate for net proceeds from the offering assumes its share price at the end of trading on the Nasdaq Stock Exchange on April 1, which was $14.58 per share. The company intends to spend the proceeds on supporting its sales, marketing and general administrative efforts. Funds will also be used to sustain R&D and for the possible acquisition of new products, technology or complementary businesses. Hansen also said that it expects the proceeds to be used for short- and intermediate-term obligations, depending on the extent of its R&D activities and the amount of cash used by its current operations. The closing date for the offering is April 7.

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