World Heart Corp.
This article was originally published in The Gray Sheet
Executive Summary
Agrees to sale of 800,000 shares of common stock at $13.39 per share through a syndicate of underwriters led by Yorkton Securities and First Associates Investments, for gross proceeds of approximately $10.7 mil. The Ottawa, Ontario developer of the HeartSaver VAD ventricular assist device will use the proceeds for clinical trials, commercialization and related corporate development (1"The Gray Sheet" Sept. 6, 1999, p. 14). The transaction was expected to close on March 17 and is projected to "fund the corporation through 2000 and 2001, by which time we expect to commence commercial production and sale" of the device, World Heart says
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