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CardioTech International, Inc.
Medical device company announces conversion of warrants
January 14th, 2004
CardioTech International, Inc., (CTE) announced that the period in which to exercise warrants issued in connection with the company's unit offering placed by Fechtor Detwiler Co., Inc., in December of 1998 has ended. In December 1998 investors bought a unit at $1.25, composed of one share of CardioTech's common stock, and one warrant exercisable to purchase one additional share at $1.50. The warrant expiry date was December 15, 2003. On an unaudited basis, as of the close of business on December 15, 2003, approximately 1,021,000 shares were voluntarily converted by the warrant holders during the current fiscal year. As a result of this conversion,...
Source: Biotech Week (2004-01-14)
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