Finance

Device firm announces $5M in equity financing

Published in Biotech Business Week, January 10th, 2005

Cambridge Heart, Inc., (CAMH) announced that it has entered into an agreement for the sale of $5.0 million of the company's Series B convertible preferred stock primarily to institutional investors.

The company intends to use the proceeds of the financing to fund its ongoing operations. Please refer to the company's Form 8-K filing for a complete description of the securities issued in the financing.

Under the terms of the financing, the company issued and sold 5000 shares of its Series B Preferred Stock at a purchase price of $1000 per share. Each share of Series B Preferred Stock is convertible into 2,222 shares of the company's common...

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Source: Biotech Business Week (2005-01-10)

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